On 15 January 2020, President Donald J. Trump and Chinese Vice Premier Liu He signed a “Phase One” Agreement between the United States and China, a truce halting the escalating trade tensions between the two global trading heavyweights. The Phase One Agreement follows an investigation by the Office of the United States Trade Representative (USTR) into Chinese trade practices that culminated in substantial and expansive U.S. tariffs on more than US$350 billion worth of Chinese exports to the United States. The Agreement is scheduled to become effective on 14 February 2020.