Chubb Welcome Phase 1 Of US/China Agreement

January 16, 2020

Chubb said they “welcome and supports the successful completion of the Phase One trade agreement between the United States and China. ”

“We congratulate the governments of both nations for achieving this important confidence-building step. We urge the U.S. and China to expeditiously move to the important Phase Two negotiations, taking into account the interests of both countries while reconciling important differences,” the company said.

“At Chubb, we have confidence in the long-term potential of the Chinese insurance market, and this agreement should expand market access for American business in financial services, including insurance.”

According to The Hill, “President Trump and Chinese Vice Premier Liu He signed an initial ‘Phase One’ trade deal Wednesday, freezing an almost 20-month trade war between Washington and Beijing and giving Trump a political boost as he seeks reelection.

“In the agreement, China committed to boosting purchases of U.S. goods and services by $200 billion over the next two years, including $77.7 billion for manufactured goods and $32 billion for agricultural products.”

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