United States Trade Representative Robert Lighthizer has said in a statement that the US-China phase one trade deal is "totally done", ONA reports citing Reuters.
Lighthizer continued on by saying that the trade deal would nearly double US exports to China within two years.
The Chinese side earlier in the day expressed hope that Beijing and Washington would be able to resolve the existing problems on the basis of equality and mutual respect.
Trade tensions between the United States and China escalated in late August as China said it would apply tariffs ranging from five to 10 percent on $75 billion worth of US goods and a 25-percent duty on American cars. The move followed Washington's decision to impose additional 10 percent tariffs on $300 billion worth of Chinese imports starting 1 September and 15 December.