Coming off the worst economic trade year of China (38% decline in the economy) Trump scores a phase 1 trade deal. here are the basics.
It does not deal with China’s state owned businesses, i.e. airlines and any Western franchises are owned by members of the communist party elites.
This deal will increase Chinese purchases of American farm and energy products. This will also reduce tariffs on American products in China.
Beijing will no longer be able to manipulate their currency, well at to the extent they have done recently.
Trump is coming off a significant wins this week, with the USMCA trade deal, impeachment failing, employment high, wages high and stocks high.