President Donald Trump is signing an agreement to provide $600 million in federal investment to a China-based appliance manufacturer, as part of his administration’s efforts to strengthen U.S.-China ties.
The investment comes as the two countries continue to fight over a trade dispute over steel.
The agreement is expected to come into effect in 2019.
Trump, speaking to reporters after signing the agreement Friday, said the deal will allow the Chinese manufacturer to “make its products in the United States again, and I think it will be a big boost for American workers and American businesses.”
“I’m not going to name names, but I think we’re going to make this a very big deal,” Trump said.
Trump also announced Thursday a $200 million investment in a Chinese-owned electronics manufacturing plant.
The deal comes a week after Trump signed an executive order to begin a review of the North American Free Trade Agreement.
The president has been trying to boost the U.A.F.T., which is among the most contentious trade deals in U.C.L.A.’s history, in part by making sure it doesn’t hurt American manufacturers.
The $600-million deal is the latest in a series of investment deals in the Trump administration’s push to increase U.N. economic ties with China.
The president signed an order to help develop the North America Free Trade Area in May, and has made similar commitments to help build a $300 million U.K.-China factory and a $400 million U.,S.-Chinese manufacturing deal.