Remarks by President Trump and Vice Premier Liu He of the People’s Republic of China in a Meeting
Issued on: October 11, 2019
3:36 P.M. EDT
PRESIDENT TRUMP: Well, thank you very much. We’ve had a lot of very big news and some very good news today. But I’d like to hold this for China. There’s nothing bigger than what we’re doing with China. I think it’s important that these are the questions that are asked. And, as you know, we have the Vice Premier of China, one of the most respected men in all of China, and the world, for that matter. And we have great respect for him, a great friendship with him.
And we’ve come to a very substantial phase one deal, and I’ll go through some of the points, and then I’ll ask the Vice Premier to say a few words and any comments that he may have.
We have come to a deal, pretty much, subject to getting it written. It’ll take probably three weeks, four weeks, or five weeks. As you know, we’re going to be in Chile together for a big summit. And maybe it’ll be then, or maybe it’ll be sometime around then.
But we’ve come to a deal on intellectual property, financial services. A tremendous deal for the farmers. A purchase of — from 40 to 50 billion dollars’ worth of agricultural products. To show you how big that is, that would be two and a half, three times what China had purchased at its highest point thus far. So, they were purchasing $16 or $17 billion at the highest point, and that’ll be brought up to $40 billion to $50 billion. So I’d suggest the farmers have to go and immediately buy more land and get bigger tractors. They’ll be available at John Deere and a lot of other great distributors.
但是，我们已经就知识产权，金融服务达成了协议。对农民来说是一笔不小的数目。购买了价值400亿到500亿美元的农产品。为了说明这一点，这将是中国迄今购买的最高点的两倍半，或三倍。他们在最高点购买了160亿或170亿美元，这将带来400亿至500亿美元的收入。因此，我建议农民必须去立即购买更多土地并购买更大的拖拉机。它们将在约翰迪尔（John Deere 农业和建筑机械公司）和许多其它出色的发行商处会有提供。
But we’re taking the purchase of agricultural products from $40 to $50 billion, meaning in that neighborhood — from 40 to 50, approximately, billion. And what they’ve been doing now, I believe, is about $8 billion, right? Eight — right now it’s eight.
The other thing I will say is, over the last two weeks, a lot of purchases have started going back to our farmers. And you’ve been doing a lot of business with us, which we appreciate very much. But it really started a few weeks ago, but they intend to go up, ultimately, once the agreement is signed, from $40 to $50 billion. And, really, from — that was from a base of probably $16 billion, and right now it’s $8 billion. And the $8 billion was lower than $8 billion. They got up to $8 billion because they’ve been purchasing quite a bit over the last couple of weeks.
我要说的另一件事是，在过去的两周中，许多购买已经开始回到我们农民那里。你与我们开展了很多业务，我们非常感谢。但是它确实是在几周前才开始的，但是他们打算在协议签署后最终增加到从400亿美元至500亿美元。而且，实际上是从 – 大概是160亿美元的基数出发，现在是80亿美元。 80亿美元低于80亿美元。他们之所以获得80亿美元，是因为他们在过去几周内一直在大量购买农产品。
So, we also have the agricultural structural issues. We have some incredible progress on the structure and structural issues. And, Bob, perhaps you could discuss that, please, on agriculture, and explain the importance of the structural issues that we’ve solved.
AMBASSADOR LIGHTHIZER: Well, I would say probably at least as important as the purchases is the fact that we’ve corrected a variety of SPS — what we call sanitary and phytosanitary issues. And we’ve corrected biotechnology issues. And it will be — it will be much easier now for American farmers to be able to ship to China. And we’ve made some corrections on our side to — that will help them on the Chinese side.
贸易代表莱特希泽：好吧，我想说的是至少与采购同等重要的事实是，我们已经纠正了各种SPS - 我们称之为卫生和植物检疫问题。我们已经纠正了生物技术问题。这将使，现在美国农民能够很容易运往中国了。我们已经对我们方面进行了一些纠正，这将有助于中国方面。
PRESIDENT TRUMP: And that’s been completed and pretty much done.
AMBASSADOR LIGHTHIZER: That’s correct.
PRESIDENT TRUMP: Another big issue that we’ve come to conclusion on is currency, foreign exchange. And, Steve, do you want to explain that, please?
SECRETARY MNUCHIN: Well, we’ve had very good discussions with Governor Yi, head of the People’s Bank of China — their central bank. We’ve also had extensive discussions on financial services, opening up their markets to our financial services firms. So that we have pretty much almost a complete agreement on both those issues. And as you know, Mr. President, currency has been a very big concern of yours since the campaign. And we have an agreement around transparency into the foreign exchange markets and free markets. So we’re very pleased with that.
PRESIDENT TRUMP: We’ve also made very good progress on technology transfer, and we’ll put some of technology transfer in phase one. Phase two will start negotiations almost immediately after we’ve concluded phase one and papered it. And I think phase one should happen pretty quickly.
So you have intellectual property. We have an agreement on intellectual property. Financial services — the banks and all of the financial services companies will be very, very happy with what we’ve been able to get. And I think China is going to be very happy because they’ll be served very well by these great institutions being able to go into China. And it’s going to be a tremendous thing for banks and for financial service companies.
这样，知识产权已有了。我们已就知识产权达成协议。金融服务 - 银行和所有金融服务公司将对我们能得到的感到非常非常满意。我认为中国将会非常高兴，因为这些能够进入中国的伟大机构将为他们提供很好的服务。对于银行和金融服务公司而言，这将是一件巨大的事情。
Agricultural structural issues — tremendous for the farmers. As Steve said, that’s almost as good as — which I disagree with him on that, but it’s almost as good as going from $8 billion and then to $16 billion, which was their all-time high, to $40 to $50 billion. So we’re going to be up to 40 to 50 billion dollars of agricultural purchases, which means the farmers are going to have to work a lot of overtime to produce that much. That’s the largest order in the history of agriculture, by far, by two and a half times.
农业结构问题 - 对农民来说是巨大的。正如史蒂夫所说 (这点史蒂夫和我有不同看法)，这与从80亿美元上升到160亿美元（创历史最高），再到400亿-500亿美元几乎一样好。因此，我们将要有多达400亿到500亿美元的农产品购买，这意味着农民将不得不大量加班才能生产出那么多农产品。迄今为止，这是农业历史上最大的订单，是两倍半。
And technology transfer — we’ll have some technology transfer in the agreement, but technology transfer will largely be done here and also in phase two. So we’re going to start negotiating phase two after phase one is completed and signed. And then there may be a phase three or we may get it done in phase two. So you’ll either have two phases or three phases.
技术转让 - 我们协议中将有一些技术转让条款，但是技术转让将主要在此处和第二阶段进行。因此，我们将在第一阶段完成并签署之后开始第二阶段的谈判。然后可能会有第三阶段，或者我们可能会在第二阶段完成它。因此，您将有两个阶段或三个阶段。
So we’re very happy with it. We have great respect for China, great respect for President Xi. And I want to just tell you that I watched the 70th anniversary in great detail, and it was an incredible event. And congratulations on the 70th, everyone. That was really something very amazing to watch.
Mr. Lighthizer has done a terrific job. All of my team, I think, has done a fantastic job. The Vice Premier, I want to just thank you very much for being here with your team. You’re very tough negotiators. Congratulations.
But it’s something that we both realized right from the beginning is very important — not only for China and not only for the U.S., but for the world. And every time there’s a little bad news, the market would go down incredibly. Every time there was a little bit of good news, the market would go up incredibly. And yet, other news that was also very big, the market just didn’t really care. They just seemed to care about the deal with USA and China, and that’s okay with me.
So we’ve had a tremendous, really, negotiation, a very complex negotiation, but something that’s going to be great for both countries.
And, Mr. Vice Premier, would you like to say something?
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