Hello and welcome to the Intelligence on Economist Radio.

I'm your host, Jason Palmer.

Every weekday we provide a fresh perspective on the events shaping your world.

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But first, as soon as Donald Trump became president, the trade relationship between America and China began to deteriorate.

The world's two largest economies became embroiled in a bitter trade war.

Leo Choe, China's vice premier and its chief negotiator, is in Washington to sign the initial stage of a trade agreement.

The dispute has resulted in tariffs or the threat of tariffs on hundreds of billions of dollars of goods.

It's shaken markets and threatened growth not only in China and America but around the world.

Although the details of the pact haven't been made public, the broad shape of it seems clear.

And what's also clear is that there's still plenty of work to do to repair trade relations.

We're expecting a few things from this phase one deal.

Mayor Keynes is our trade and globalization editor.

We're expecting the Chinese to sign up to buy a lot of American stuff.

We're expecting commitments on intellectual property.

We're expecting something on currency manipulation.

And then we're expecting a rather unusual chapter on enforcement, which will essentially set out how the US can put tariffs on the Chinese if anything goes wrong in future.

And a couple of those things have been the sort of sticking points for quite some time in this trade war.

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