BENATAR, DAVE MATTHEWS AND MOTORHEAD P THE CEREMONY WILL
TAKE PLACE THIS MAY IN
CLEVELAND.
CLEVELAND. AND NOW YOU KNOW.
>>> THIS MORNING PRESIDENT TRUMP
SIGNED PHASE ONE OF A TRADE DEAL
BETWEEN THE U.S. AND CHINA.
THE PACT COMES AFTER MONTHS OF
ESCALATING TARIFFS BETWEEN THE
WORLD’S TWO BIGGEST ECONOMIES.
KELLY O’DONNELL IS AT THE WHITE
HOUSE WITH THE VERY LATEST AND
KELLY LET’S START WITH THE DEAL,
WHAT ARE THE HIGHLIGHTS HERE?
>> ONE OF THE THINGS PRESIDENT
TRUMP WANTED TO HIGHLIGHT IS
CHINA AGREES TO BUY MORE GOODS,
AND THAT SHOULD HELP AMERICAN
FARMERS AND BUSINESSES.
AND SHOULD EASE SOME OF THOSE
TENSIONS THAT HAVE REALLY
THREATENED THE BUSINESSES AROUND
THE UNITED STATES, ESPECIALLY
FAMILY FARMERS AND TO SOME
EXTENT GOES TO CONSUMER
EXPERIENCE.
EXPERIENCE. THAT’S A BIG PIECE OF THIS.
BUT PHASE ONE AS THEY ARE
CALLING IT IS IMPORTANT TO SAY
IT’S LIMITED IN ITS SCOPE AND
NEGOTIATIONS WILL CONTINUE WITH
CHINA FOR A MORE SORT OF
FORCEFUL PLAN TO TRY TO GET A
BETTER AGREEMENT.
BETTER AGREEMENT. PART OF WHAT THIS DOES IS IT
ALSO BEGINS TO TACKLE ISSUES IN
THE TECHNOLOGY AREA LIKE
INTELLECTUAL PROPERTY, LIKE
CHINA’S REQUEST FREQUENTLY TO
HAVE COMPANIES SIGN OVER SOME OF
THEIR TECHNOLOGY IN ORDER TO GET
ACCESS TO MARKETS IN CHINA,
TRYING TO CURB THAT SORT OF
REQUIREMENT IN THE BUSINESS
WORLD.
WORLD. AND PART OF IT ALSO ON A
POLITICAL SENSE IS GIVING
PRESIDENT TRUMP AN OPPORTUNITY
TO HAVE A CEREMONY, HAVE AN
OFFICIAL SIGNING, HAVE POSITIVES
COME OUT OF THIS THAT ARE
IMPORTANT FOR HIM POLITICALLY
BUT EXTEND TO MEMBERS OF
CONGRESS TO SOME EXTENT IN BOTH
PARTIES BUT CERTAINLY FOR
REPUBLICANS, AT A TIME WHEN THE
PRESIDENT IS IN THIS PERILOUS
STATE WHERE THE IMPEACHMENT
TRIAL THAT IS EXPECTED TO BEGIN
IN THE SENATE.
THERE ARE LAYERS TO THIS.
OF COURSE WHEN THEY BEGAN THIS,
ALLISON, SPENT MANY MONTHS OF
NEGOTIATING, IMPEACHMENT WASN’T
EVEN ON THE RADAR THEN.
THE COINCIDENCE OF HOW THOSE
EVENTS COLLIDED TODAY IT IS
NOTABLE THAT THE PRESIDENT GETS
TO WAVE THAT ECONOMIC FLAG AT A
TIME WHEN HE’S HITTING THE
CAMPAIGN TRAIL AS WELL AS TRYING
TO PREPARE FOR THIS NEXT PHASE
OF IMPEACHMENT.
OF IMPEACHMENT. SO WITH CHINA IT ALSO SIGNALS
THAT THERE IS AN IMPROVED
RELATIONSHIP.
RELATIONSHIP. OF COURSE THERE HAVE BEEN
TARIFFS AND THAT IS A VERY
COSTLY BUSINESS.
COSTLY BUSINESS. PRESIDENT TRUMP SAYING THAT HE
WOULD BE WILLING TO REMOVE SOME
OF THOSE TARIFFS ON GOODS IN
PHASE TWO.
PHASE TWO. THIS IS AN IMPORTANT MILE MARKER
IN THIS ONGOING NEGOTIATION BUT
IT ALSO IS A LONG WAY FROM THE
CONCLUSION THAT THE U.S. AND
CHINA HOPE TO ACHIEVE.
ON SOME OF THE MOST THORNY
ISSUES OF TECHNOLOGY THERE ARE
MANY ECONOMIC EXPERTS WHO SAY IT
IS HIGHLY UNLIKELY THAT CHINA
WILL GO THE DISTANCE THAT
PRESIDENT TRUMP WOULD LIKE TO
SEE, AMERICAN BUSINESS WOULD
LIKE TO SEE IN TERMS OF
PROTECTIONS FOR AMERICAN IDEAS
AND INTELLECTUAL PROPERTY.
BUT THEY CONSIDER THIS A
POSITIVE STEP, IF CHIEN AND THE
U.S. ARE TRADING MORE, IF THE
IMBALANCE IS MITIGATED TO SOME
DEGREE, THAT THAT CAN BE GOOD
FOR THE U.S. AND CHINA.
AND AS THE PRESIDENT OUTLINED
TODAY, PRESIDENT XI OF CHINA
SAID, GOOD FOR THE WORLD AS
WELL.
WELL. ALLISON?
ALLISON? >> THE ACTUAL TEXT OF THE DEAL,
WASN’T MADE AVAILABLE AHEAD OF
THIS SIGNING.
THIS SIGNING. IS THAT UNUSUAL?
>> Reporter: TO SOME DEGREE IT
IS.
IS. AND YET NOT SO UNUSUAL IN THE
TRUMP ERA.
TRUMP ERA. PART OF THAT ALLOWS FOR THE
DETAILS TO BE FINALIZED UP UNTIL
THE LAST MINUTE WHEN THE SIGNING
ACTUALLY TAKES PLACE.
THE NEGOTIATION HAS BEEN SO
CONTENTIOUS.
CONTENTIOUS. PERHAPS NOT PUTTING IT INTO ITS
FINAL FORM UNTIL THE DAY OF THE
SIGNING GAVE THEM A LITTLE
LAST-MINUTE WIGGLE ROOM.
AND THEN AT THE SAME TIME ALSO
TRYING TO AVOID TOO MUCH
JUDGMENT ABOUT WHAT’S IN THE
DEAL, IT COULD INFLUENCE THE
OUTCOME BEFORE IT’S ACTUALLY
SIGNED.
SIGNED. SO IT IS BOTH A BREATHING SPACE
ISSUE AS WELL AS A DEFENSIVE
POSTURE TO NOT HAVE LAST-MINUTE
SORT OF CALLS BEING MADE FROM
ENTITIES THAT MIGHT WANT TO SEE
SOMETHING DIFFERENT.
SOMETHING DIFFERENT. SO PROTECTING THE DEAL MAY BE
ONE ARGUMENT FOR TRYING TO KEEP
TUNDER WRAPS.
TUNDER WRAPS. AT THE SAME TIME ONCE IT’S
SIGNED IT IS IMPERATIVE.
BE ABLE TO SEE IT, REVIEWING IT,
UNDERSTAND IT, AND SEE HOW IT
PLAYS OUT IN A PRACTICAL SENSE
THAT WILL AFFECT REAL BUSINESSES
AND REAL POCKETBOOKS AROUND THE
COUNTRY.
COUNTRY. >> ONE LAST QUESTION.
THE PRESIDENT RECENTLY FLOATED
THE IDEA THAT PERHAPS PHASE TWO
WOULD NOT HAPPEN UNTIL AFTER THE
ELECTION.
ELECTION. THE WHITE HOUSE HOLDING TO THAT
LINE?
LINE? >> THEY’RE ACTUALLY NOT
EMBRACING THAT.
EMBRACING THAT. THEY WOULD LIKE TO GET THIS DONE
BEFORE THE ELECTION.
THE PRESIDENT SORT OF FLOATED,
THAT GIVES HIM A LITTLE BIT OF
EXTRA TIME AND EXPECTATIONS.
BUT THEY SAID TODAY, OFFICIALS
INVOLVED IN THIS PROCESS, THEY’D
LIKE TO SEE IT KEEP MOVING AND
KEEP THE MOMENTUM OF THIS FIRST
NEGOTIATION AND SIGNING TO MAYBE
CARRY THEM INTO RESOLVING SOME
OF THE OTHER ISSUES IN PHASE
TWO.
TWO. THE PRESIDENT ALSO SAID HE’D
LIKE TO GO TO CHINA FOR THAT AND
PERHAPS HAVE AN OPPORTUNITY TO
MEET FACE TO FACE WITH PRESIDENT
XI IF THEY MAKE UP MORE OF THE