China deal includes promises not to retaliate, IP and biotech commitments

Under a phase-one trade agreement with China signed by President Trump and Chinese Vice Premier Liu He on Tuesday, Beijing has pledged not to retaliate against the U.S. if it imposes remedial tariffs “in good faith,” to drastically reduce approval times for biotechnology traits and to institute criminal penalties for intellectual property violations. The 86-page deal also establishes year-one and year-two benchmarks for China to increase its purchases of U.S. goods and services for a total of $200 billion...