On Jan. 15, 2020, the United States and China signed “phase one” of a trade deal. The countries’ relationship has been trending downward for the past two years, and the deal does mark a possible inflection point.
For now, the United States will not be putting additional tariffs on Chinese imports and is even rolling back some tariffs. China is agreeing to reduce nontariff barriers and to increase its purchases of U.S. goods. However, China didn’t agree to remove its retaliatory tariffs on U.S. products, including dairy.