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，我們已經就知識產權，金融服務達成了協議。對農民來說是一筆不小的數目。購買了價值400億到500億美元的農產品。為了說明這一點，這將是中國迄今購買的最高點的兩倍半，或三倍。他們在最高點購買了160億或170億美元，這將帶來400億至500億美元的收入。因此，我建議農民必須去立即購買更多土地併購買更大的拖拉機。它們將在約翰迪爾（John Deere 農業和建築機械公司）和許多其它出色的發行商處會有提供。
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.
我要說的另一件事是，在過去的兩週中，許多購買已經開始回到我們農民那裡。你與我們開展了很多業務，我們非常感謝。但是它確實是在幾週前才開始的，但是他們打算在協議簽署後最終增加到從400億美元至500億美元。而且，實際上是從 – 大概是160億美元的基數出發，現在是80億美元。 80億美元低於80億美元。他們之所以獲得80億美元，是因為他們在過去幾週內一直在大量購買農產品。
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.
貿易代表萊特希澤：好吧，我想說的是至少與採購同等重要的事實是，我們已經糾正了各種SPS – 我們稱之為衛生和植物檢疫問題。我們已經糾正了生物技術問題。這將使，現在美國農民能夠很容易運往中國了。我們已經對我們方面進行了一些糾正，這將有助於中國方面。
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.
這樣，知識產權已有了。我們已就知識產權達成協議。金融服務 – 銀行和所有金融服務公司將對我們能得到的感到非常非常滿意。我認為中國將會非常高興，因為這些能夠進入中國的偉大機構將為他們提供很好的服務。對於銀行和金融服務公司而言，這將是一件巨大的事情。
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.
農業結構問題 – 對農民來說是巨大的。正如史蒂夫所說 (這點史蒂夫和我有不同看法)，這與從80億美元上升到160億美元（創歷史最高），再到400億-500億美元幾乎一樣好。因此，我們將要有多達400億到500億美元的農產品購買，這意味著農民將不得不大量加班才能生產出那麼多農產品。迄今為止，這是農業歷史上最大的訂單，是兩倍半。
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.
技術轉讓 – 我們協議中將有一些技術轉讓條款，但是技術轉讓將主要在此處和第二階段進行。因此，我們將在第一階段完成並簽署之後開始第二階段的談判。然後可能會有第三階段，或者我們可能會在第二階段完成它。因此，您將有兩個階段或三個階段。
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?