On October 11, 2019, President Trump met with Chinese Vice Premier Liu He at the White House and announced the United States and China had come to “a very substantial phase one deal” that will probably take three to five weeks to put into writing. According to the President, the interim agreement includes intellectual property, financial services and an agricultural deal involving the purchase of $40 to $50 billion worth of agricultural products annually [compared to $8 billion now, but never higher than $16 billion, according to the President]. The US Trade Representative indicated that the deal corrected some sanitary and phytosanitary (SPS) and biotechnology issues, making agricultural sales easier. Treasury Secretary Mnuchin stated that “almost complete” agreement had also been reached on currency and opening up financial markets. There will also be some technology transfer agreement, although most technology transfer language will be in a phase two agreement. It was confirmed that while the agreement is being put in writing, while we go through a process of documenting this, the United States will not be implementing the increase of tariffs from 25 to 30 percent that were scheduled to go in place on October 15, 2019. The two countries also announced they had to have a workable dispute settlement mechanism. The President mentioned that he and President Xi of China will both be at the APEC summit in Chile and it the agreement is ready, might be signed there.