The daily business briefing: January 16, 2020

Trump signs the first phase of a trade deal with China, Rise of Skywalker becomes Disney's seventh billion-dollar film of 2019, and more

Trump and Liu He
(Image credit: SAUL LOEB/AFP via Getty Images)

1. Trump signs first phase of trade deal with China

President Trump signed the "phase one" trade deal with China on Wednesday in what both sides portrayed as a step toward ending the 18-month trade war between the world's two largest economies. China's Vice Premier Liu He traveled to the White House to lead Beijing's delegation at the signing ceremony. Under the agreement, China pledged to buy at least an additional $200 billion in U.S. farm products and other goods and services, including in the energy and manufacturing sectors, over two years. The Trump administration has said it will monitor progress and start talks on the next phase in its push to end what the president has called unfair trade practices by China. "Together we are righting the wrongs of the past," Trump said.

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Harold Maass, The Week US

Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.