Trump signs partial trade deal with China

China promised to spend at least $200 billion more buying U.S. products over the next two years and take steps to protect intellectual property.
1:48 | 01/16/20

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Transcript for Trump signs partial trade deal with China
tonight, the president fully aware what was playing out over on the hill, but he was moving forward. A victory of his own at the white house. A signing ceremony today for the first phase of a trade deal with the Dow closing above 29,000 for the first time, but the president did make reference to what was happening on the hill. And here's ABC's chief white house correspondent Jonathan Karl now. Reporter: President trump gathered his top supporters to announce an agreement he says keeps one of his most important campaign promises. But first mentioned the drama on capitol hill. Some of the congressmen may have a vote and it's on the impeachment hoax. Reporter: Then, with great fanfare, he signed a partial trade deal with China. Together, we are righting the wrongs of the past and delivering a future of economic justice and security for American workers, farmers and families. Reporter: China has now promised to spend at least $200 billion more buying American products over the next two years. Including $77 billion on airplanes, cars and other heavy machinery. $53 billion on oil and coal. And some $40 billion on agricultural goods. China also says it will take steps to protect intellectual property, by cracking down on fake American products counterfeited in Chinese factories. All right, so, let's get right to Jon Karl, he's live at the white house tonight. And Jon, this is just the first phase of a China trade deal. And the president made it pretty clear today he's not lifting his steep tariffs against Chinese goods. Reporter: David, some of the tariffs will be reduced, and tariffs the president had threatened back in December will not go into effect. But overwhelmingly most of the tariffs will remain in place, subject to negotiations that likely will not begin until after the presidential election. Jon Karl live at the white house tonight. Jon, thuf.

This transcript has been automatically generated and may not be 100% accurate.

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