Trump, Chinese Premier Signing Phase 1 Trade Deal Draws Tech Cheers

U.S. President Donald Trump signed the phase one trade deal Wednesday alongside Chinese Vice Premier Liu He. It's "a transformative deal" and "a sea change in international trade," Trump told a White House ceremony. It reflects "great progress on protecting intellectual property, on preventing forced technology transfer" and other measures, said Vice President Mike Pence, per a government transcript. It "signals a turning point for the U.S. tech sector," said CompTIA Executive Vice President-Advocacy Cinnamon Rogers. "This agreement will begin to address key industry concerns with China, including forced technology transfer and IP protections," said Information Technology Industry Council CEO Jason Oxman. The U.S. will reduce tariffs on about 3,800 eight-digit tariff lines from 15 percent to 7.5 percent in 30 days, when the just-signed agreement takes effect, an administration official told reporters on condition of not being identified by name.