He said he was curious as to whether the provisions of the Phase 1 agreement were in place and whether the risk of having to exchange data would persist. On January 15, 2020, phase 1 of the U.S.-China Economic and Trade Agreement was signed, which I hope marks the beginning of the end of the trade war that has hit both countries significantly in recent years. The agreement aims to strengthen economic and trade relations between the two countries by promoting compliance with international standards that contribute to the harmonious development of world trade. Instead of establishing new laws or regulations, the agreement contains a number of promises made by both the United States and China, which, if implemented, will benefit the economies of both countries. As part of the agreement, China pledged to purchase an additional $200 billion in U.S. agricultural and energy exports and to remove some agricultural health standards that were previously seen as a barrier to trade with the United States. China has also agreed to review its IP protection system with regard to trade secrets, trademarks, counterfeiting and piracy. In addition, China is considering several significant changes to its process to streamline evidence approval and further adapt its system to U.S. laws and procedures. In January 1992, the PRC signed a Memorandum of Understanding with the U.S. government to ensure copyright protection for all U.S.
“works” and other foreign works. Several bilateral negotiations have been held between the two governments. At times, both governments have threatened trade sanctions over intellectual property issues. Following negotiations in 1995, the Intellectual Property Rights Agreement was signed between the United States. In June 1996, the two governments signed a new agreement on the protection of U.S. intellectual property in the PRC. [Citation required] From a trademark protection perspective, the brand advisor for a U.S. consumer goods company says the focus on loyal brands helps consolidate progress in China last year, including changes to trademark law, which came into effect on November 1, 2019.