Cornyn Statement on China Trade Deal

I released the following statement after the Trump Administration announced it reached a Phase One trade agreement with China on tariff rate reductions, suspension of new tariffs, intellectual property, financial services, and export purchases, including agriculture:

I am excited to hear positive reports coming from the President’s announcement of a preliminary trade deal with China. I remain cautiously optimistic that the suspension of Sunday’s planned tariff hikes and reduction on existing tariffs will provide needed stability for our economy, especially our businesses and agricultural producers in Texas. I commend President Trump and Ambassador Lighthizer for their determination to level the playing field in our trade relationship with China. I look forward to reviewing the details once they are made available.

I am the Chairman of the U.S. Senate Finance Committee’s Subcommittee on International Trade, Customs, and Global Competitiveness.