President Donald Trump told reporters aboard Air Force One late Saturday night that he and President Xi of China had come to an initial agreement that would be one of the largest deals ever made.
“It’s an incredible deal. It goes down, certainly — if it happens, it goes down as one of the largest deals ever made,” Trump said. “It’s a deal between the United States and China made by the President and the President. And it’ll have an incredibly positive impact on farming, meaning agriculture, industrial products, computers — every type of product.”
Trump explained that the deal would delay the implementation of 25% tariffs on Chinese goods by up to 90 days and China would remove tariffs and barriers against American Goods.
The president also said that China would buy massive amounts of agricultural products from the U.S. and that Xi agreed to make criminal opioid exportation one of the hardest-punished crimes in the country.
“President Xi, in a wonderful humanitarian gesture, has agreed to designate Fentanyl as a Controlled Substance, meaning that people selling Fentanyl to the United States will be subject to China’s maximum penalty under the law,” White House Press Secretary Sarah Sanders said in a statement.
Reporters asked about another summit with Kim Jong-un of North Korea to which the president answered that they would likely meet again in January or February at one of three sites that are “within plan distance,” referring to Air Force One’s range without giving any other specifics on where the meeting might be held.
The president also put some pressure on Congress to ratify the U.S.-Mexico-Canada Agreement on trade that was signed by leaders of all three countries during the G20.
“I will be formally terminating NAFTA shortly,” he said. “Just so you understand, when I do that, if for any reason we’re unable to make the deal, that’s (inaudible) — because Congress, then Congress will have a choice of approving the USMCA, which is a phenomenal deal. Much, much better than NAFTA.”
“I’ll be terminating it within a relatively short period of time. We get rid of NAFTA. It’s been a disaster for the United States. It’s caused us tremendous amounts of unemployment and loss and company loss and everything else. That’ll be terminated,” he added.
The president also mentioned that he would hold off for a bit at the request of Congress due to President George H.W. Bush’s passing.
“If they come — which they have — to talk about an extension because of President Bush’s passing, I would absolutely consider it and probably give it,” he said.
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