China announces "phase one" of trade deal with US (3) China announces "phase one" of a trade deal with the United States that includes a progressive rollback of tariffs that have threatened to roil the global economy. Chinese vice commerce minister Wang Shouwen told reporters that, "After signing the agreement it is our hope that the two sides will abide by the agreement and endeavour to work hard to implement the relevent provisions".\\n\\n"The two countries have agreed on the text of a phase one trade and economic deal," vice commerce minister Wang Shouwen said at a news conference, adding that the two sides now have to sign the agreement.\\n IMAGES AND SOUNDBITES