Trade War

Trump said it is a "landmark agreement."

China has been waging economic war on the United States and, until now, they’ve been winning.

All three of the major averages are trading in record territory.

The pact, which may add half a point to U.S. GDP this year, is only the initial phase of a broad agreement that Trump has said may come in as many as three sections.

Lighthizer served as deputy U.S. trade representative under President Ronald Reagan.

Under the phase one U.S.-China trade agreement, Beijing has agreed to buy between $40 billion and $50 billion in American agriculture -- roughly 25 percent of overall purchases, the secretary of agriculture said.