I said, who is that guy . He is the governor of iowa. He said dont say anything bad about china. I had to rip up half of my speech. He said we do a lot of business. Ive been dealing with china for 35 years with corn and all of the different things. He told me a story that was amazing. He said 35 years ago, when i. Tarted, i met a man named xi he was not president. He was a young man. The governor came back and told met the, he said i just future president of china. Nobody thought much about it. You know what . 28 years later, he turned out to be right. You have been an incredible ambassador. They like each other so much. When it came time to picking the important position of ambassador, i said havent you had enough after 24 years being governor of iowa . He said if you want me to do that. He has been a great help. I appreciate it. Thank you very much. [applause] pres. Trump nobody could have done that job better. Upsidei could go on the on the opposite side of the spectrum from the governor, his attitude is little different. Our trade advisor, peter navarro. We have all types. A deputy chief of staff, chris andel, has been with us for long time and has done a fantastic job. Legend onecretary, wall street, wilbur ross. [applause] pres. Trump thank you. A man who knows agriculture as well as anybody in the world. We were looking for an agricultural person. We wanted to go political and we were looking for somebody that. Ould fit perfectly sonny came in and it was over. I learned more about agriculture and that halfhour. Sonny perdue has been fantastic and we are taking care of our farmers. Thank you, sir. [applause] pres. Trump a woman, transportation is going very well. She has done a wonderful job. We are getting approvals down from 21 years to two years. It may get rejected for environmental reasons, but we e not let lindsay down for a highway that has taken 19 to 20 years to get approval, we want to get down to one. If does not work, we will say do not build it. We will not wait to 20 years to see you cannot build the highway. She has been fantastic. Secretary of transportation elaine chao. [applause] pres. Trump we have tremendous and thisf people here is a big celebration. Some of the congressmen may have a vote. It is on the impeachment hopes. If you want you can go is on the impeachment hoax. It is not going to matter because it is going well. I would rather have you voting than sitting here interest sitting here listening to me introduce you. On, letsa hoax going take care of it. Where is Kevin Mccarthy . I am glad. I like it much better that way. The house folks . 195nothing. We got three democrats, one of them actually left the democratic party. What a job youve done. I want to thank you all. I love that. We have incredible people in the audience and i would like to introduce a few. ,wo very good friends of mine sheldon adel send and miriam abelson. They have been tremendous supporters of us, the republican party, and they are great people. A man who always liked me, because he is so smart. The great lou dobbs. At first he said he is the best since reagan. Then he got to know me more and more and he said he is even better than reagan. [laughter] pres. Trump then a few weeks ago somebody told me that somebody has an important show, tremendous audience and everybody in this room watches. Lou dobbs said he is the greatest of them all. I sit does that include washington and lincoln, and he said yes. I do not know if he was for real, but that is ok. The great lou dobbs. Thank you very much. Show. A man who everybody knows. He knows more than probably everybody in this room put together. He has seen it all and he made a statement to jared. Jared said Henry Kissinger told me how to the president ever pull this off . I said can i quote henry on that. Henry is outstanding. When henry is impressed with something, then i am impressed. Henry, we are impressed with you. Thank you. [applause] pres. Trump and michael pillsbury, thank you very much, and susan pillsbury, thank you very much. Youve been saying fantastic things about china and about us. We have a good partnership. This is going to be something very special. We will talk about it in a second. A friend of mine, Steve Schwarzman is here. I know you have no interest in this deal. Im surprised youre not sitting on the edge of the stage. Steve has done a great job and a very Good Relationship with china and with us. Nelson peltz is here. Nelson is around here somewhere. What are you doing sitting back that way . How is General Electric doing . You will straighten it out. He came in late. He did not come in too early. Hank freeburg is here. Hank. If hank it stayed like he should have, we would not have the problem we ended up having with our economy. We have tremendous senators here in some incredible people. If i miss your name, say it and i will stand up and call it. As senator that has been new to the game, he took it up quickly and easily. You ran a race that was undoable , the person he ran against was unbeatable, nice woman, heidi, but unbeatable. Then kevin cramer said i could beat her. I think you only won by 12 points. They said he is the only man in north dakota that can win. I said do it. I had him in my office three times. Aid kevin you got to do it this time i know he is doing it. He calls back and says im not doing it. But i never give up. Now instead of being a congressman, he is a senator. Youve been great. Thank you very much. Kevin cramer. Mike, a friend of mine. Thank you very much. Hat a job you do behind the scenes is nobody sharper or smarter and we all respect you and love you. Thank you. Appreciate it. They have a good team. Joni ernst, you got ethanol so you cannot be complaining sh. Stephen, it is good for you. Joni would call me along with chuck vastly. All they want to know about is ethanol. We got it done. Deb fischer, same boat. She wanted that ethanol from nebraska. Is an outstanding man and loves our country. He works like hell. You do anything other than politics . He likes golf. Much better golfer than people would understand. He is a great guy, you get done,. E brings people together shou d chuck grassley. Will you stand up. He can say things in a nice manner and it makes everybody scared. Julie anythingy, to the press . Comey joked like a dog. Chuck is outstanding. Between you and the governor, those are good ones. Unbeatable under any circumstance. He makes the route every night. Have you ever missed a vote . 19 not pres. Trump 1993. He was in my office and he said so sorry i have to leave. I was right in the middle of the meeting. I said why . He said i have to vote. I have never missed about. I said how many years . Said 1993. He i said that is a good record to keep. He has a solid person and he is a good friend of ours. [applause] pres. Trump let them know about that ethanol. We brought home the ethanol. They were not nice about it. They were not nice about the ethanol. Are working very closely together. It is incredible what has happened with what we approved on choice. It has made a difference. You do not hear complaints about the v. A. Anymore. If they have to wait just a monster two days, they see a doctor. Jerry moran, he did a fantastic job. Rob portman, great friend of ours from ohio. I just left ohio. You. Rub they love you are my friend. Rob portman. Thanks, rob. Kansaserts, a man from who is going to be leaving us. I cannot believe youre not running again. You have at least another 12 goods years in the senate if you wanted them. Ok. He has made that decision. Pat, thank you very much. This is very important to pat and mike browns. It is a much better come everything you stand for, especially the farmers. The farmers will be happy. Where is mike browns . He is another one who was brutal to me. He would call and say you have to get this done. Thank you very much, fantastic job. Dan sullivan from the great state of alaska. I stop every time i can. I won by a lot. They like me in alaska. They like you, two. Kevin mccarthy left for the ho ax. We have to do that otherwise it becomes more serious hoax. Mark meadows, friend of mine right from the beginning. Thank you very much. Great wife. His wife supported me long before him. He thinks i dont know that. On women for trump when it was not so fashionable, like on the worst day of my life she was doing women for trump with 50 women with buses all over north carolina. Vern buchanan, thank you very much. Mike conaway, thank you. Kristi, thank you for being here. I did not know you are going to be here. We were going to do a big fireworks display. Mount rushmore. I am going to try to be there on july 4. The governor calls, he ran a ,reatly raised, a tough race the governor was a big star. She was a bigger star. She said you think we can get fireworks back to Mount Rushmore . I said why . She said environmental reasons. I said you cannot have fireworks because of the environment . I said what can burn, it is stone. Nobody knew why, they just said environmental reasons, so i called our people and within 15 minutes we got it approved and you will have your first big fireworks display at Mount Rushmore. I will try and get out there if i can. Right . [applause] pres. Trump that will be great, thank you very much for being here. Mike kelly. Thank you very much. What a friend. These are great people. Darren lahood. Thank you very much. Mccaul. B could michael you did a phenomenal job three to four days we go with your speech on the floor. Mchenry has the best name in politics. If i had that name i wouldve won 20 years ago. Patrick mchenry. A man who has such courage, he deserves a medal. He will probably get one. He stuffed a wind to get metals though, right. We cannot give metals if we do not win. This guy has never lost in his life. He is so tough and smart. Devin nunes, stand up. What they put him through [applause] pres. Trump what these phony people, what these dirty cops and all of the others put you through, and man u survived it better than ever and everyone respects you and even meadows respects you. Thank you, very much. Adrian smith, thank you very much. You guys are all sad ive introduced you. Not much more for you. You will hear great things about china and you will hear also great things now because we have a whos who of the world of business with us today. You . Abney of ubs, where just end up. Just stand up. If your company is not doing well you may want to not stand up. There are a couple who will slink back into the chair. They will pretend they are not here. Honeywell,czak of great company. Great equipment you make, i have a lot of it, use a lot of it, the country uses a lot of it. Ajay banga, mastercard. Joshua bolten, business roundtable. Thank you. David calhoun, a very easy company. He just took over boeing. David . S stand up, david. It is not your fault. You just got there. Strain it out quickly, please . I have no doubt. It is a great company. Les daniels. Beenamico we have fighting the steel things for 20 years together. I want to say 30 but i do not want to do that. Weve been fighting together a lot longer than 20 years. Now we are winning. It took 25 to 30 years to come up with changes at the top. We are getting really taken advantage of as a country and you have been a warrior. Dan and i always felt like disco people against the world. John donahue, u. S. Chamber of commerce. Thank you tom, good job. Aig hank greenberg, have you ever heard of aig . I appreciate it, brian. Mary verios, j. P. Morgan chase. They Just Announced earnings and they are incredible. They were substantial, whatd you say thank you, mr. President . I made a lot of bankers look very good. Youre doing a great job. Say hello to jamie, i think we are seeing him tomorrow. Nancy of ford. Nancy, where are you . So young. That is very impressive. Thank you very much, youre doing a good job. Chemicals,ing, dow incredible company. Thank you, jim. Near. Osco, should meg gentle. Congratulations. Ken griffin, citadel, what a guy he is. Where are you . He is tried to hide some of his money. Where the hell is ken . He will stand but he is very quiet about it. He is here somewhere and he will not stand. Howard hamm, if he puts his drawing to the ground and oil pours out. It is true. Other guys spend billions and billions of dollars and cannot find oil. A straw and goes like this on oil pumps. Howard has been with me from the beginning. He has been with me since the day i came down the escalator. His jonathan in this audience . How the hell do i not introduce john . They do not have your name down. Will you stand up . What a great guy he is. [applause] pres. Trump i also see kevin brady, great job with the tax cuts. Now kelly, visa. Al kelly, thank you. Ryan lance, conocophillips. You are doing fantastically well. Most of you i am saying can do fantastically well. Thank you, mr. President. Dont feel guilty. Allen mcdonald, citibank. Far. Rought that back so i remember seven to eight years ago. Citibank is doing financial fantastically well. Raymond mcdaniel movies. Are you giving us good ratings . We are doing pretty good. Micron. Incredible company. You. Mollenkopf of qualcomm. They had a merger and i should set they should let that go by. I called up the president and they rejected it. By that time you are off to another deal. Nobody else could have done that ep. D jim morrison of je what a great brand. What a great job they have done. Larry nichols, devon energy. Thank you, larry. These are great people. Jason oxman, iti. Reat job you are doing scott janko, ebay. I sell things i sign things and then i see them for a lot of money on ebay. They say sign my sneaker. Does good nights later i see it on ebay selling for 5,000. I say what kind of people are these . Sometimes it is the senators and the congressmen that do it. Cti. Schapiro, great job, gary. Greg smith of boeing, also. Get that going, work together. Boeing makes a tremendous portion of our gdp. I had no idea it was such a big company. I knew it was big, but the could have up to. 5 of gdp. It will get moving fast. It will be better than ever. Mike summers, api. Thank you. Paula taylor of fitch, another good ratings group. Are we doing ok . Otherwise i would not have introduced you. Robert thornton, news corp. Where is rupert . I cannot believe rupert is not here. Is he the greatest or what . He was going to get 40 billion it his thing, he sold all of he did not want. He sold of it to some group that does not like trump is much, that is the only problem. He said to keep bidding this thing up. They got 75 billion . He kept the best stuff. Rupert is fantastic. The whole family is a great family. John thorton. Where is john . Great, good job, john. Thank you for all of the help. Jay timmons. Thank you very much. Tephen von, king and spalding i could use good lie guilt i could use good lawyer advice. Now, i just have to suffer through it the way i did all my life. Jonathan ward, atlas organization. Evin warsh where is kevin . I dont know. I could have used you a little bit. Why werent you more forceful when you wanted that job . Why werent you more forceful . You are a forceful person. I thought you were too forceful for the job. I wouldve been very happy with you. Thank you for being here. You understand this very well, right . It bothers me when germany and other countries are getting paid to borrow money. Do not know where that leads we have to pay. We have the number one in the world and we have to pay for our money. Our Interest Rates are set high by the fed. ,ur dollar is fairly high relatively speaking. Theyer countries get thisnegative rates, concept is incredible. You do not know where it leads, but you borrow money, and when you have to pay it back they tell you this is when i like very much. I will talk to you about that, lou dobbs. Why are we paying and other countries are getting money when they get paid back. Who are the people that buy the stuff . Who puts money into something when they say this is a guaranteed loss . That is a Different Group of people that i know. Glenn juncker and of carlyle group, great group. Workers,es american farmers, ranchers, and innovators have been hurt by the unfair trade with china. Forced Technology Transfer and intellectualproperty staff have been huge problems since china joined the world trade decades ago. We have racked up nearly 5 trillion in trade deficits. Lost millions and millions of manufacturing jobs, and saw tens of thousands of factories close. That had to do with mexico and canada. What they did to this country with trade and trade deals, nafta. We had no deal with china. It was just easy pickings. For years politicians ran for office promising action to remedy these practices, only to do nothing but allow them to continue. It was pillage. As a candidate for president , i ed kevin youve been watching donald trump live from the white house as he goes through the lawmakers as well as the companies. He is accompanied by Senior Administration officials, not just from his own administration but also from china. This comes at a time when he is now saying there is a conclusion to the u. S. China phase one trade agreement. Just looking through my reporters notebook. The u. S. Has promised to half tariffs on imports, delaying others. China has made structural purchasing two hundred billion dollars of American Goods and services. 32 billion worth of farm and Agricultural Products. 50 billion in natural gas and crude oil. Stocks are hitting a record high amid china and trade pact optimism. Will be carefully monitoring the president s remarks. We will break back in when he comments further. I want to welcome david mcintosh, the president of the club for growth, the leading Free EnterpriseAdvocacy Group in the country. We were listening to President Trump. Some of those ceos that were qualcomm, citibank, plus leaders for the republican. This is a big win politically and economically for the president. David i agree. It is a huge win. We are not in this continuous trademark, will it get worse, will it get better. We will have stability through the election. Then after the election the president will renegotiate with china for the real deal we need. We are a little worried there is a potential upside there leaving on the table. That is not removing the tariffs. We wish they would go ahead and do that because then in addition to the. 5 gdp growth we think we could get another. 5 to 1 . Kevin the sources ive talked to at the Treasury Department and the Business Community on this issue say maybe that is in fact the enforcement mechanism as part of this for the administration to ensure china follows through on its commitments. That would be great to see. In a couple of months if we see china starting purchases and they will lift the rest of these tariffs, i disagree i just got email from one of our members that says the cost of es company. Added an extra 63,000 on the cost of it. That means he has to decide, who dont i higher . Keeping a real cost of those tariffs. It is a good win. It shows they can negotiate a deal with china or begin to negotiate with china. I think they can capitalize it by taking it to the next step. Kevin looking at the bloomberg terminal, the bloomberg dollar index near lows of the day as President Trump speaks. Stocks hitting a record amid china and trade optimism. You mentioned what is not in there and how tariffs are being left on. Another issue planted out of here is the issue of 5g and technology as it relates to huawei. David and there we have to stand strong. The u. S. Needs to be the leader in 5g because it is going to be the backbone of the next generation of the academy. Economy. I think they could not reach a resolution on huawei. And for me, that is probably a good signal. It means the u. S. Did not have to concede. Kevin there is a lot of nonpartisan. Lets listen into what President Trump is saying at the white house. Pres. Trump to develop and come up with. Are you guys hearing that . You dont have to give up anything anymore, just be strong. Dont let it happen. You dont have to do that. It was a terrible, terrible situation going on there. A lot of it was because our companies were very weak. You were very weak. You gave up things he did not have to give up. Legally, you dont have to give them up. Transfers and licensing of based on market terms that are fully voluntary, reflect mutual agreement. Phase one will see china greatly expand imports to the United States. Buy a lot of their products inexpensively. But we have an additional they are going to be, what is to me, very important. Number one, they will be spending much more than 200 billion dollars over the next two years, including up to 50 billion on agricultural alone. Some of the numbers i wrote down, on manufacturing, they will be spending 75 billion. They will be putting it into our country. 75 billion on manufacturing. 50 billion worth of energy. That is great for our energy people. We are the number one in the world now. We werent. We are now the Number One Energy group in the world. We are bigger than saudi arabia and we are bigger than russia. [applause] pres. Trump we are bigger than everyone. For those people that are in the room that are very much into it, of which we have a lot of the oil and gas folks in the world in the room, im approving pipelines in texas momentarily which would have taken 15 more years to get. But you will have them very quickly. We take it from a 15 year period to a two month period. If we do that, we will be up another 22 in oil and natural gas. 50 billion for energy. 50 billion for agriculture. 40 billion to 50 billion for services. The banks are going to be doing great, credit cards, all of the things you do so well. He will be able to now go into china and do a job and they will be working with you. One of the other things i have to say is protection of intellectual property, we have very strong protection of intellectual property. A lot of people thought this deal was a simple deal, or the farmers were going to get 50 billion. Remember i said they had to buy larger tractors . China is doing 16 billion with the farmers. And they stopped. Why not . They are in a negotiation. Our people agreed to 20 billion and i said no, make it 50 billion. They say sir, our farmers cant produce that much. I said i love our farmers, let me let them tell me they cant do it. Tell them to go out and buy a larger tractor, by more land. I have no doubt they will be able to do it. [applause] so, the other thing i think we have is the currency devaluation standards. We have a very strong standard for currency devaluation. Wasll due respect, china one of the greats in history at doing that. We are going to work on it together. Currency devaluation will now have some very, very strong restrictions and very powerful restrictions. Again, one of the strongest things we have, total and full enforceability. And you know what that means. Total, full enforceability on all of this. The agreement hairs down major market barriers for u. S. Food and agricultural exports. China will now welcome american beef and pork, seafood, rice, dairy, infant formula, animal feed, biotechnology and much, much more. Doing thehey were not things that they were supposed to be. And thats ok. Will. E now they the deal will benefit energy, manufacturing, services, and all sectors of the economy. This deal, they thought it was a 50 billion agricultural deal, now it is much more than 200 billion dollars of which 50 billion is agricultural. The rest is in all of the other things we just discussed. Especially for financial. You should really look at it. You have a free pass and you dont have to worry about the 49 where you cannot own because he will be able to all now and you will not have to take partners let are forced upon you. It is an incredible deal from that standpoint. We are delighted that chinese consumers will now enjoy the greater access to the best products on earth. Those grown and raised here in the usa. Which has been really incredible. We almost have the whole deal done but this is better. This is a more detailed deal of this aspect of the deal. It was such a big deal before and now this is a much more, much more targeted, much more powerful deal for everything we are doing. Which is a very large part of the deal. But we are going to be starting phase two as soon as this kicks in. We will be starting phase two. We are leaves it leaving tariffs on which people were shocked, but it is great. I will agree to take those tariffs off if we are able to do phase two. We are negotiating with the tariffs, we have 25 on 250 billion worth of goods. We are bringing 10 down to seven point 5 on 300 billion worth of goods. I am leaving them on because otherwise, we have no cards to negotiate with. Arego shading with liu he very tough. They will come off as we finished phase two. That is something some people on wall street will love, but from what i see, they love this deal the way it is now. We have strong cards. China and i are going to start negotiating with bob and steve and everybody very, very shortly. From this nations vibrant heartland to our gleaming cities, millions of workers and farmers and innovators have waited decades for this. We never even had a deal with china. In all fairness, i dont blame china, i blame the people who stood here before me. I told that to president xi, i was in beijing making a speech saying how they are ripping us off and guess what . He was not too happy. I said, hes not happy. I said i Better Change the speech quickly. I said i blame our president s, and im right. We should have done the same thing to them but we didnt. We never had a deal with them. They do whatever they want. With this signing, we mark more than just an agreement, we mark a sea change in international trade. At long last, americans have a government that puts them first at the negotiating table. First in trade, first in every deal. Every decision, and every action we take with incredible enforceability. As we move on to phase two, i look forward to continuing to forge a future of greater harmony, prosperity, and really, commerce. Commerce and far beyond commerce between the United States and china. This is something that far beyond even this deal, it is going to lead to an Even Stronger world peace. We now have a big investment in each other and in getting along with each other. This deal is phase one. We will probably be able to conclude it with phase two. It is something we all want to get done. And it will be a tremendously big deal. This is something that is going to be so special to our manufacturers, our farmers, our bankers, are service people. Nobody has ever seen anything like it. This is the biggest deal there is anywhere in the world by far. And that is good, we are doing another big one next week. But this is the biggest deal anyone has ever seen. It can lead to being a deal that is unprecedented. China has 1. 5 billion people. Ultimately, in phase two, we will be opening up china to all of your companies. I hope you folks can handle it. Now i would like to ask ambassador lighthizer and secretary mnuchin to say a few words please. [applause] amb. Lighthizer mr. President , mr. Vice president , mr. Vice premier, it is an honor to be here for this momentum event. The president has long fought for fair and balanced trade for americans. He has for years, complained about our enormous trade deficit with china and the unfair practices which have, in part, contributed to it. Indeed, solving the trade crisis was a major objective of his campaign and of his administration. The United States and china are two great countries with true great economies, budget two very different economic systems. It is imperative that we develop trade and economic rules and practices that will allow us both to prosper. The alternative is not acceptable for either of us. This phase one agreement is the result of over two years of hard work, it is an important part of the president s economic plan, and it is a big step forward in writing the rules needed and developing the practices that we must have going forward. This agreement will benefit both the United States and china. Im grateful to the president for allowing me to be part of this plan. Im grateful to secretary mnuchin, my friend, with whom i have worked so closely on this and so many other matters. Finally, i would like to thank and acknowledge them more than 60 men and women at ustr and other agencies who have worked so hard on this day and night for so many months. I should begin with ambassador Jeffrey Gerrish who is my deputy, who led this effort. Thank you for your patriotism. [applause] amb. Lighthizer i would also like to single out ambassador greg yeary dowd, my agriculture deputy. [applause] amb. Lighthizer and the assistant ustr responsible for this enormous effort, terri mccartin. [applause] amb. Lighthizer this was a Great Team Effort by my office as well as the departments of treasury, agriculture, commerce, and many others. I should also acknowledge the hard work of the chinese side. Vice premier liu he is a leader who was a diligent, patriotic, and as far as i can tell, always working and has proven himself honorable. [applause] we appreciater all the efforts also the efforts, thank you to his restipal deputy, and the of your team. Once again, congratulations, President Trump and congratulations, president xi. [applause] thank you very much, mr. Vice president , under your leadership, the economic policies of this administration are working. Tax cuts, regulatory relief and now great trade deals are making the u. S. Economy stronger and helping American Business and workers and farmers. This is an incredible accomplishment. I want to thank ambassador lighthizer, you have done in an an extraordinary job leading this effort across literally an enormous resource, every Single Agency contributed to this. This was a real team effort. So thank you very much for your extraordinary job. I would also like to thank the vice premier and his team, we could not have done this without all of you. This was a lot of hard work and again, i would like to thank you and president xi, a great step for momentous agreement between our two countries, thank you. [applause] pres. Trump by the way, i have to tell you a woman is in the room who loves her state so much, and i did not introduce her before because i wanted to say, you have been so great, would you please stand up, shelley . West virginia senator. [applause] pres. Trump thank you, shelley. I want to again thank vice premier for the work we have done together. It has been an incredible number of months. It was stop and go and it looks like it was pretty much going to be stop and never go. But i would like to now invite you on behalf of the great nation that is indeed a great nation, i would like you to just relax a little while, take it easy, go out and see a movie. President , go have a round of golf, see a movie, no, no, im too busy. But they are workers. China is an incredible, incredible nation. I would like to have you say a few words, mr. Vice premier, please. [applause] pres. Trump the vice premier would like to read a letter that was sent to me from president xi. We will ask the interpreter to come up, please. Thank you very much. Thats very nice. Vice premier he [speaking a foreign language] translator thank you, President Trump. Now may i read out the message from president xi jinping to president donald president donald j. Trump. Vice premier he [speaking a foreign language] translator mr. President , as china and the United States signs the phase one trade agreement, i asked vice premier liu he to bring to you my warm greetings. Vice premier he [speaking a foreign language] translator as i said, during our formal call on the 20th of december last year, conclusions of the phase one trade agreement between china and the u. S. Is good for china, for the u. S. , and for the whole world. It also shows our two countries have the ability to act on the basis of ecology and Mutual Respect and through dialogue and citation to properly handle and effectively resolve relevant issues. [speaking a foreign language] translator in the next steps, two sides will agree to the agreement in real earnest and optimize its impact, so as to make even greater progress in chinau. S. Trade and Economic Corporation cooperation. Vice premier he [speaking a foreign language] translator to maintain steady growth of chinau. S. Relations to serve the interest of both countries and requires joint efforts from both sides. Vice premier he [speaking a foreign language] translator in that spirit, i hope the u. S. Side will treat fairly Chinese Companies and their regular trade and investment activities, as give support to the collaboration between enterprises, research institutes, and schools and colleges of the two countries, as it will help in the mutual trust and cooperation between as. Vice premier he [speaking a foreign language] translator china is prepared to work with the u. S. In that direction. And i will stay in close touch with you personally. I believe under our guidance, chinau. S. Relations will deliver more results and bring great benefit to our peoples in the year ahead. Vice premier he [speaking a foreign language] translator the Chinese New Year is a few days away. Extend our seasons greetings to you, to melania, and your family. May you all enjoy happiness and success in the new year. [applause] ambassador lighthizer, secretary mnuchin, colleagues, friends, ladies and gentlemen. Good afternoon. Today, china and the United States will be officially signing the phase one trade agreement. First of all, allow me to pay tribute to our two president s. I also want to thank the u. S. Principles, our two economic teams, and all those who have their contribution to this phase one trade agreement. As two great countries with important responsibilities in world affairs, china and the United States, with of the larger picture in mind, have taken a serious approach to our differences and worked to manage them appropriately reaching a phase one trade agreement. It is good for china, for the United States, and for the world. This is a mutually beneficial and winwin agreement. It will bring about stable economic growth, promote world peace and prosperity, and is in the interest of the producers, consumers, investors in both countries. At the same time, this agreement is not directed at norwell led affect the lawful rights and interest of any third country. It is in line with wto rules. A cooperative economic and trade relationship is the propeller of the overall chinau. S. Relations. Over the past two years, the two sides encountered some difficulties in the economic and trade field. At times, there were setbacks in our trade talks. Because on some issues, we dont see i to i. Eye to eye. However, our two economic teams did not give up, with relentless efforts from both sides on the basis of equality and Mutual Respect. We have reached the phase one trade agreement. Say, onenese often should not be daunted by difficult problems because there are always more solutions than problems. [applause] vice premier he [speaking a foreign language] translator this is an extensive agreement. China will signed, work with the u. S. And in the principle of equality and Mutual Respect, strictly honor the agreement, accommodate each others core concerns, and ensure the good implementation of the phase one trade agreement. It is the pressing need and will also play an Important Role in the growth of bilateral and trade relations in the future. As to where we will go from here, there is a chinese proverb that goes the beginning is the most difficult part. There is a similars saying in english, a good beginning is half of success. It means we need to continue to be problem oriented and focused on implementing the phase one trade agreement, so as to bring start in the sound, economic and trade relations going forward. As the latest leading center of the Chinese People rises, we will import find quality find quality Agricultural Products from countries across the world. As the two sides have agreed based on the market demand in china, in line with market turns, chinese businesses will purchase 40 billion u. S. Dollars of Agricultural Products from the United States annually. If the demand is strong, the Companies May buy more. To make it happen, the two governments need to foster sound market environments for businesses to expand trade activities. Ladies and gentlemen, friends, the chinese economy is transitioning from highspeed growth to highquality development. A new philosophy is governing our Development Across the board, reforming it opening up and picking up speed. This year, we will build a moderately Prosperous Society in all respects. Chinas per capita gdp has exceeded 10,000 u. S. Dollars. A 400 million strong middle income group is emerging. A massive domestic market is taking shape. From welcomes investors around the world to china, including those from the United States and will expand imports of find quality products and services from a bunch of other countries. China will continue to enhance the legal environment, step up the protection of Property Rights and intellectual property, apply a Management System of preestablishment national treatment, plus the negative list, and create a level playing field. Will open itself even wider. [applause] vice premier he [speaking a foreign language] translator ladies and istlemen, friends, the world now at a critical historical crossroads. A majoraced with strategic choice of how to promote major country cooperation and international cooperation. A politicalveloped system and a model of economic shows naturalat national reality. This does not mean china in the United States cannot work together. On the contrary. Our two countries share enormous common commercial interests, and we are faced with multiple common challenges like terrorism, counter narcotics, widening the income gap, major diseases, resources, and protecting the environment. Fore is a real need cooperation. President xi jinping points out that there are a thousand reasons to make chinau. S. Relations succeed, and not a single one to let it fail. We must seek Common Ground while putting aside differences and find a path toward winwin cooperations. This has important implications for china, the United States, and the world at large. It has been and will continue to be proved that we both stand to gain from cooperation and lose from confrontation. Cooperation is the only right choice. We need to act in the over interest of world peace end of element, and shared future of humanity. Pursue equal consultation with Mutual Respect and take forward chinau. S. Relations based on organization, organization, cooperation and stability. And fulfill the great Historic Mission that we shoulder together. I see many Visionary People here in the audience who have made an important contribution to the sound development of chinau. S. Relations. Please accept my most sincere appreciation. [applause] vice premier he [speaking a foreign language] translator the lunar china new year is coming soon. I extend seasons greetings to you. I wish you good health and all the success. Again, thank you very much, President Trump, and thank you all. [applause] vice premier he [speaking a foreign language] translator now, i would like to invite ambassador our ambassador to say a few words. Thank you. [applause] pres. Trump i will ask the ambassador to come up and say a few words. Thank you. [applause] [speaking a foreign language] translator honorable Vice President pence, secretary mnuchin, ambassador lighthizer, ambassador liu he mr. Liu he, ladies and gentlemen, just now, vice premier has given us a comprehensive elaboration on chinas principal position on the chinau. S. Trade agreement. Given the highly complex international environment, reaching a chinau. S. Trade agreement based on equality and Mutual Respect, it is good for china in the u. S. And good for the peace and prosperity of the whole world. Will abide byides and implement the agreement with earnest, to keep the chinau. S. Trade relation in the right direction of mute Mutual Benefit and deliver greater benefits to the people of our two countries. Chinas development as a result of the wisdom and hard work of 1. 4 billion Chinese People. And the rights of the Chinese People to pursue a better life