MOTORHEAD P THE CEREMONY WILL TAKE PLACE THIS MAY IN

TAKE PLACE THIS MAY IN CLEVELAND.

CLEVELAND. AND NOW YOU KNOW.

AND NOW YOU KNOW. >>> THIS MORNING PRESIDENT TRUMP

>>> THIS MORNING PRESIDENT TRUMP SIGNED PHASE ONE OF A TRADE DEAL

SIGNED PHASE ONE OF A TRADE DEAL BETWEEN THE U.S. AND CHINA.

BETWEEN THE U.S. AND CHINA. THE PACT COMES AFTER MONTHS OF

THE PACT COMES AFTER MONTHS OF ESCALATING TARIFFS BETWEEN THE

ESCALATING TARIFFS BETWEEN THE WORLD'S TWO BIGGEST ECONOMIES.

WORLD'S TWO BIGGEST ECONOMIES. KELLY O'DONNELL IS AT THE WHITE

KELLY O'DONNELL IS AT THE WHITE HOUSE WITH THE VERY LATEST AND

HOUSE WITH THE VERY LATEST AND KELLY LET'S START WITH THE DEAL,

KELLY LET'S START WITH THE DEAL, WHAT ARE THE HIGHLIGHTS HERE?

WHAT ARE THE HIGHLIGHTS HERE? >> ONE OF THE THINGS PRESIDENT

>> ONE OF THE THINGS PRESIDENT TRUMP WANTED TO HIGHLIGHT IS

TRUMP WANTED TO HIGHLIGHT IS CHINA AGREES TO BUY MORE GOODS,

CHINA AGREES TO BUY MORE GOODS, AND THAT SHOULD HELP AMERICAN

AND THAT SHOULD HELP AMERICAN FARMERS AND BUSINESSES.

FARMERS AND BUSINESSES. AND SHOULD EASE SOME OF THOSE

AND SHOULD EASE SOME OF THOSE TENSIONS THAT HAVE REALLY

TENSIONS THAT HAVE REALLY THREATENED THE BUSINESSES AROUND

THREATENED THE BUSINESSES AROUND THE UNITED STATES, ESPECIALLY

THE UNITED STATES, ESPECIALLY FAMILY FARMERS AND TO SOME

FAMILY FARMERS AND TO SOME EXTENT GOES TO CONSUMER

EXTENT GOES TO CONSUMER EXPERIENCE.

EXPERIENCE. THAT'S A BIG PIECE OF THIS.

THAT'S A BIG PIECE OF THIS. BUT PHASE ONE AS THEY ARE

BUT PHASE ONE AS THEY ARE CALLING IT IS IMPORTANT TO SAY

CALLING IT IS IMPORTANT TO SAY IT'S LIMITED IN ITS SCOPE AND

IT'S LIMITED IN ITS SCOPE AND NEGOTIATIONS WILL CONTINUE WITH

NEGOTIATIONS WILL CONTINUE WITH CHINA FOR A MORE SORT OF

CHINA FOR A MORE SORT OF FORCEFUL PLAN TO TRY TO GET A

FORCEFUL PLAN TO TRY TO GET A BETTER AGREEMENT.

BETTER AGREEMENT. PART OF WHAT THIS DOES IS IT

PART OF WHAT THIS DOES IS IT ALSO BEGINS TO TACKLE ISSUES IN

ALSO BEGINS TO TACKLE ISSUES IN THE TECHNOLOGY AREA LIKE

THE TECHNOLOGY AREA LIKE INTELLECTUAL PROPERTY, LIKE

INTELLECTUAL PROPERTY, LIKE CHINA'S REQUEST FREQUENTLY TO

CHINA'S REQUEST FREQUENTLY TO HAVE COMPANIES SIGN OVER SOME OF

HAVE COMPANIES SIGN OVER SOME OF THEIR TECHNOLOGY IN ORDER TO GET

THEIR TECHNOLOGY IN ORDER TO GET ACCESS TO MARKETS IN CHINA,

ACCESS TO MARKETS IN CHINA, TRYING TO CURB THAT SORT OF

TRYING TO CURB THAT SORT OF REQUIREMENT IN THE BUSINESS

REQUIREMENT IN THE BUSINESS WORLD.

WORLD. AND PART OF IT ALSO ON A

AND PART OF IT ALSO ON A POLITICAL SENSE IS GIVING

POLITICAL SENSE IS GIVING PRESIDENT TRUMP AN OPPORTUNITY

PRESIDENT TRUMP AN OPPORTUNITY TO HAVE A CEREMONY, HAVE AN

TO HAVE A CEREMONY, HAVE AN OFFICIAL SIGNING, HAVE POSITIVES

OFFICIAL SIGNING, HAVE POSITIVES COME OUT OF THIS THAT ARE

COME OUT OF THIS THAT ARE IMPORTANT FOR HIM POLITICALLY

IMPORTANT FOR HIM POLITICALLY BUT EXTEND TO MEMBERS OF

BUT EXTEND TO MEMBERS OF CONGRESS TO SOME EXTENT IN BOTH

CONGRESS TO SOME EXTENT IN BOTH PARTIES BUT CERTAINLY FOR

PARTIES BUT CERTAINLY FOR REPUBLICANS, AT A TIME WHEN THE

REPUBLICANS, AT A TIME WHEN THE PRESIDENT IS IN THIS PERILOUS

PRESIDENT IS IN THIS PERILOUS STATE WHERE THE IMPEACHMENT

STATE WHERE THE IMPEACHMENT TRIAL THAT IS EXPECTED TO BEGIN

TRIAL THAT IS EXPECTED TO BEGIN IN THE SENATE.

IN THE SENATE. THERE ARE LAYERS TO THIS.

THERE ARE LAYERS TO THIS. OF COURSE WHEN THEY BEGAN THIS,

OF COURSE WHEN THEY BEGAN THIS, ALLISON, SPENT MANY MONTHS OF

ALLISON, SPENT MANY MONTHS OF NEGOTIATING, IMPEACHMENT WASN'T

NEGOTIATING, IMPEACHMENT WASN'T EVEN ON THE RADAR THEN.

EVEN ON THE RADAR THEN. THE COINCIDENCE OF HOW THOSE

THE COINCIDENCE OF HOW THOSE EVENTS COLLIDED TODAY IT IS

EVENTS COLLIDED TODAY IT IS NOTABLE THAT THE PRESIDENT GETS

NOTABLE THAT THE PRESIDENT GETS TO WAVE THAT ECONOMIC FLAG AT A

TO WAVE THAT ECONOMIC FLAG AT A TIME WHEN HE'S HITTING THE

TIME WHEN HE'S HITTING THE CAMPAIGN TRAIL AS WELL AS TRYING

CAMPAIGN TRAIL AS WELL AS TRYING TO PREPARE FOR THIS NEXT PHASE

TO PREPARE FOR THIS NEXT PHASE OF IMPEACHMENT.

OF IMPEACHMENT. SO WITH CHINA IT ALSO SIGNALS

SO WITH CHINA IT ALSO SIGNALS THAT THERE IS AN IMPROVED

THAT THERE IS AN IMPROVED RELATIONSHIP.

RELATIONSHIP. OF COURSE THERE HAVE BEEN

OF COURSE THERE HAVE BEEN TARIFFS AND THAT IS A VERY

TARIFFS AND THAT IS A VERY COSTLY BUSINESS.

COSTLY BUSINESS. PRESIDENT TRUMP SAYING THAT HE

PRESIDENT TRUMP SAYING THAT HE WOULD BE WILLING TO REMOVE SOME

WOULD BE WILLING TO REMOVE SOME OF THOSE TARIFFS ON GOODS IN

OF THOSE TARIFFS ON GOODS IN PHASE TWO.

PHASE TWO. THIS IS AN IMPORTANT MILE MARKER

THIS IS AN IMPORTANT MILE MARKER IN THIS ONGOING NEGOTIATION BUT

IN THIS ONGOING NEGOTIATION BUT IT ALSO IS A LONG WAY FROM THE

IT ALSO IS A LONG WAY FROM THE CONCLUSION THAT THE U.S. AND

CONCLUSION THAT THE U.S. AND CHINA HOPE TO ACHIEVE.

CHINA HOPE TO ACHIEVE. ON SOME OF THE MOST THORNY

ON SOME OF THE MOST THORNY ISSUES OF TECHNOLOGY THERE ARE

ISSUES OF TECHNOLOGY THERE ARE MANY ECONOMIC EXPERTS WHO SAY IT

MANY ECONOMIC EXPERTS WHO SAY IT IS HIGHLY UNLIKELY THAT CHINA

IS HIGHLY UNLIKELY THAT CHINA WILL GO THE DISTANCE THAT

WILL GO THE DISTANCE THAT PRESIDENT TRUMP WOULD LIKE TO

PRESIDENT TRUMP WOULD LIKE TO SEE, AMERICAN BUSINESS WOULD

SEE, AMERICAN BUSINESS WOULD LIKE TO SEE IN TERMS OF

LIKE TO SEE IN TERMS OF PROTECTIONS FOR AMERICAN IDEAS

PROTECTIONS FOR AMERICAN IDEAS AND INTELLECTUAL PROPERTY.

AND INTELLECTUAL PROPERTY. BUT THEY CONSIDER THIS A

BUT THEY CONSIDER THIS A POSITIVE STEP, IF CHIEN AND THE

POSITIVE STEP, IF CHIEN AND THE U.S. ARE TRADING MORE, IF THE

U.S. ARE TRADING MORE, IF THE IMBALANCE IS MITIGATED TO SOME

IMBALANCE IS MITIGATED TO SOME DEGREE, THAT THAT CAN BE GOOD

DEGREE, THAT THAT CAN BE GOOD FOR THE U.S. AND CHINA.

FOR THE U.S. AND CHINA. AND AS THE PRESIDENT OUTLINED

AND AS THE PRESIDENT OUTLINED TODAY, PRESIDENT XI OF CHINA

TODAY, PRESIDENT XI OF CHINA SAID, GOOD FOR THE WORLD AS

SAID, GOOD FOR THE WORLD AS WELL.

WELL. ALLISON?

ALLISON? >> THE ACTUAL TEXT OF THE DEAL,

>> THE ACTUAL TEXT OF THE DEAL, WASN'T MADE AVAILABLE AHEAD OF

WASN'T MADE AVAILABLE AHEAD OF THIS SIGNING.

THIS SIGNING. IS THAT UNUSUAL?

IS THAT UNUSUAL? >> Reporter: TO SOME DEGREE IT

>> Reporter: TO SOME DEGREE IT IS.

IS. AND YET NOT SO UNUSUAL IN THE

AND YET NOT SO UNUSUAL IN THE TRUMP ERA.

TRUMP ERA. PART OF THAT ALLOWS FOR THE

PART OF THAT ALLOWS FOR THE DETAILS TO BE FINALIZED UP UNTIL

DETAILS TO BE FINALIZED UP UNTIL THE LAST MINUTE WHEN THE SIGNING

THE LAST MINUTE WHEN THE SIGNING ACTUALLY TAKES PLACE.

ACTUALLY TAKES PLACE. THE NEGOTIATION HAS BEEN SO

THE NEGOTIATION HAS BEEN SO CONTENTIOUS.

CONTENTIOUS. PERHAPS NOT PUTTING IT INTO ITS

PERHAPS NOT PUTTING IT INTO ITS FINAL FORM UNTIL THE DAY OF THE

FINAL FORM UNTIL THE DAY OF THE SIGNING GAVE THEM A LITTLE

SIGNING GAVE THEM A LITTLE LAST-MINUTE WIGGLE ROOM.

LAST-MINUTE WIGGLE ROOM. AND THEN AT THE SAME TIME ALSO

AND THEN AT THE SAME TIME ALSO TRYING TO AVOID TOO MUCH

TRYING TO AVOID TOO MUCH JUDGMENT ABOUT WHAT'S IN THE

JUDGMENT ABOUT WHAT'S IN THE DEAL, IT COULD INFLUENCE THE

DEAL, IT COULD INFLUENCE THE OUTCOME BEFORE IT'S ACTUALLY

OUTCOME BEFORE IT'S ACTUALLY SIGNED.

SIGNED. SO IT IS BOTH A BREATHING SPACE

SO IT IS BOTH A BREATHING SPACE ISSUE AS WELL AS A DEFENSIVE

ISSUE AS WELL AS A DEFENSIVE POSTURE TO NOT HAVE LAST-MINUTE

POSTURE TO NOT HAVE LAST-MINUTE SORT OF CALLS BEING MADE FROM

SORT OF CALLS BEING MADE FROM ENTITIES THAT MIGHT WANT TO SEE

ENTITIES THAT MIGHT WANT TO SEE SOMETHING DIFFERENT.

SOMETHING DIFFERENT. SO PROTECTING THE DEAL MAY BE

SO PROTECTING THE DEAL MAY BE ONE ARGUMENT FOR TRYING TO KEEP

ONE ARGUMENT FOR TRYING TO KEEP TUNDER WRAPS.

TUNDER WRAPS. AT THE SAME TIME ONCE IT'S

AT THE SAME TIME ONCE IT'S SIGNED IT IS IMPERATIVE.

SIGNED IT IS IMPERATIVE. BE ABLE TO SEE IT, REVIEWING IT,

BE ABLE TO SEE IT, REVIEWING IT, UNDERSTAND IT, AND SEE HOW IT

UNDERSTAND IT, AND SEE HOW IT PLAYS OUT IN A PRACTICAL SENSE

PLAYS OUT IN A PRACTICAL SENSE THAT WILL AFFECT REAL BUSINESSES

THAT WILL AFFECT REAL BUSINESSES AND REAL POCKETBOOKS AROUND THE

AND REAL POCKETBOOKS AROUND THE COUNTRY.

COUNTRY. >> ONE LAST QUESTION.

>> ONE LAST QUESTION. THE PRESIDENT RECENTLY FLOATED

THE PRESIDENT RECENTLY FLOATED THE IDEA THAT PERHAPS PHASE TWO

THE IDEA THAT PERHAPS PHASE TWO WOULD NOT HAPPEN UNTIL AFTER THE

WOULD NOT HAPPEN UNTIL AFTER THE ELECTION.

ELECTION. THE WHITE HOUSE HOLDING TO THAT

THE WHITE HOUSE HOLDING TO THAT LINE?

LINE? >> THEY'RE ACTUALLY NOT

>> THEY'RE ACTUALLY NOT EMBRACING THAT.

EMBRACING THAT. THEY WOULD LIKE TO GET THIS DONE

THEY WOULD LIKE TO GET THIS DONE BEFORE THE ELECTION.

BEFORE THE ELECTION. THE PRESIDENT SORT OF FLOATED,

THE PRESIDENT SORT OF FLOATED, THAT GIVES HIM A LITTLE BIT OF

THAT GIVES HIM A LITTLE BIT OF EXTRA TIME AND EXPECTATIONS.

EXTRA TIME AND EXPECTATIONS. BUT THEY SAID TODAY, OFFICIALS

BUT THEY SAID TODAY, OFFICIALS INVOLVED IN THIS PROCESS, THEY'D

INVOLVED IN THIS PROCESS, THEY'D LIKE TO SEE IT KEEP MOVING AND

LIKE TO SEE IT KEEP MOVING AND KEEP THE MOMENTUM OF THIS FIRST

KEEP THE MOMENTUM OF THIS FIRST NEGOTIATION AND SIGNING TO MAYBE

NEGOTIATION AND SIGNING TO MAYBE CARRY THEM INTO RESOLVING SOME

CARRY THEM INTO RESOLVING SOME OF THE OTHER ISSUES IN PHASE

OF THE OTHER ISSUES IN PHASE TWO.

TWO. THE PRESIDENT ALSO SAID HE'D

THE PRESIDENT ALSO SAID HE'D LIKE TO GO TO CHINA FOR THAT AND

LIKE TO GO TO CHINA FOR THAT AND PERHAPS HAVE AN OPPORTUNITY TO

PERHAPS HAVE AN OPPORTUNITY TO MEET FACE TO FACE WITH PRESIDENT

MEET FACE TO FACE WITH PRESIDENT XI IF THEY MAKE UP MORE OF THE