<p>The US-China trade deal is "remarkable" in scope but it won't solve all the problems between the world's two biggest economies, the top US negotiator said Sunday.</p>.<p>"This is not just about agriculture and other purchases," US Trade Representative Robert Lighthizer said in an interview with CBS's "Face the Nation."</p>.<p>"The way to think about this deal is this is a first step in trying to integrate two very different systems to the benefit of both of us," he said.</p>.<p>The so-called phase one agreement announced Friday includes elements dealing with intellectual property protections, technology, currency and financial services.</p>.<p>Above all, Lighthizer said, "it's enforceable."</p>.<p>He said the $50 billion in additional purchases of American agricultural products by China is spelt out in writing in the agreement.</p>.<p> Though the agreement is still being translated and has yet to be signed, Lighthizer insisted, "This is totally done."</p>.<p>He would not give a precise date for the signing but said he expected it to happen in early January.</p>.<p>China committed to a minimum of $200 billion in increased purchases over the next two years from US manufacturers, farmers, energy producers and providers of services over the next two years, according to Lighthizer.</p>.<p>US exports to China will double in the next year, and nearly triple the year after if the agreement is in place.</p>.<p>In 2017, before the US-China trade war was unleashed, the United States exported some $120 billion in goods to the Asian giant.</p>.<p>"Over the course of the last year, what this president has accomplished in this area is remarkable," Lighthizer said, referring also to the just concluded US-Mexico-Canada trade deal and others.</p>.<p>"Anyone of these deals would have been monstrous. And the fact that we have all of them together is great for agriculture," he said.</p>.<p>The deal, however, has met with a mixed reaction from trade experts, in part because some details have yet to be released.</p>.<p>China expert Scott Kennedy said that the costs of the trade war "have been substantial and far-reaching (and) the benefits narrow and ephemeral."</p>.<p>And trade economist Mary Lovely said the gains in the deal do not fully compensate for the damage to US farmers and businesses.</p>.<p>But Lighthizer said negotiators never envisioned solving all trade issues at one go, and future negotiations with China will be informed by the implementation of the phase one agreement.</p>.<p>"It really is a remarkable agreement, but it's not going to solve all the problems," he said.</p>.<p>The agreement does enable the two sides to declare a truce in a trade war that has roiled the global economy for the past 18 months.</p>.<p>Since March 2018, Beijing and Washington have inflicted punitive reciprocal tariffs on hundreds of billions of dollars of goods, hitting the Chinese economy hard and slowing global economic growth.</p>.<p>In exchange for the Chinese commitments, the Trump administration called off a new round of tariffs that was set to go into effect on Sunday.</p>.<p>And under the terms of the agreement, it agreed to reduce by half the tariffs imposed September 1 on $120 billion in Chinese goods.</p>
<p>The US-China trade deal is "remarkable" in scope but it won't solve all the problems between the world's two biggest economies, the top US negotiator said Sunday.</p>.<p>"This is not just about agriculture and other purchases," US Trade Representative Robert Lighthizer said in an interview with CBS's "Face the Nation."</p>.<p>"The way to think about this deal is this is a first step in trying to integrate two very different systems to the benefit of both of us," he said.</p>.<p>The so-called phase one agreement announced Friday includes elements dealing with intellectual property protections, technology, currency and financial services.</p>.<p>Above all, Lighthizer said, "it's enforceable."</p>.<p>He said the $50 billion in additional purchases of American agricultural products by China is spelt out in writing in the agreement.</p>.<p> Though the agreement is still being translated and has yet to be signed, Lighthizer insisted, "This is totally done."</p>.<p>He would not give a precise date for the signing but said he expected it to happen in early January.</p>.<p>China committed to a minimum of $200 billion in increased purchases over the next two years from US manufacturers, farmers, energy producers and providers of services over the next two years, according to Lighthizer.</p>.<p>US exports to China will double in the next year, and nearly triple the year after if the agreement is in place.</p>.<p>In 2017, before the US-China trade war was unleashed, the United States exported some $120 billion in goods to the Asian giant.</p>.<p>"Over the course of the last year, what this president has accomplished in this area is remarkable," Lighthizer said, referring also to the just concluded US-Mexico-Canada trade deal and others.</p>.<p>"Anyone of these deals would have been monstrous. And the fact that we have all of them together is great for agriculture," he said.</p>.<p>The deal, however, has met with a mixed reaction from trade experts, in part because some details have yet to be released.</p>.<p>China expert Scott Kennedy said that the costs of the trade war "have been substantial and far-reaching (and) the benefits narrow and ephemeral."</p>.<p>And trade economist Mary Lovely said the gains in the deal do not fully compensate for the damage to US farmers and businesses.</p>.<p>But Lighthizer said negotiators never envisioned solving all trade issues at one go, and future negotiations with China will be informed by the implementation of the phase one agreement.</p>.<p>"It really is a remarkable agreement, but it's not going to solve all the problems," he said.</p>.<p>The agreement does enable the two sides to declare a truce in a trade war that has roiled the global economy for the past 18 months.</p>.<p>Since March 2018, Beijing and Washington have inflicted punitive reciprocal tariffs on hundreds of billions of dollars of goods, hitting the Chinese economy hard and slowing global economic growth.</p>.<p>In exchange for the Chinese commitments, the Trump administration called off a new round of tariffs that was set to go into effect on Sunday.</p>.<p>And under the terms of the agreement, it agreed to reduce by half the tariffs imposed September 1 on $120 billion in Chinese goods.</p>