President Donald Trump’s campaign said Tuesday it has reached an agreement with the Democratic-controlled Senate to provide $2 billion in economic stimulus to the United States.
Trump’s tax plan would also boost exports, and would be the first major U.S. deal with the Trans-Pacific Partnership, a 10-nation pact aimed at boosting economic ties with Asian nations.
The deal would not go into effect for years, but could be the basis for a deal with President Xi Jinping of China, who is scheduled to meet with Trump in New York next week.
Trump said he has reached a deal in principle to create up to 100,000 jobs in the U.s. and a number of other countries, but the details of the agreement would be worked out by his administration.
The administration has been working with Democrats on tax breaks for companies, which would generate billions in new business.
Democrats in the Senate had asked for a $2 million tax credit for American companies to bring in foreign direct investment.
The White House had argued for a much smaller tax break, but Democrats said the credit should be at least $1 million per company.
The president also said the president would renegotiate trade deals to make sure U.,S.
jobs are at risk from Chinese protectionism and protectionism from other countries.
Trump has said he will sign the trade deal, but he has not yet said whether he will withdraw from the Trans Pacific Partnership, the multilateral trade deal between the U,S., 11 other nations and China.
Trump is also negotiating a bilateral trade deal with South Korea and Australia.
The two countries already have a $60 billion deal, and a $15 billion trade pact would be signed by the president if he were to go ahead with the deal.
In addition to the stimulus package, the president is negotiating a $1 billion stimulus package for businesses, and he has also agreed to boost U. S. exports, the White House said.
The stimulus package would create the American Jobs Act, which is aimed at encouraging companies to hire and grow.
The $1.2 trillion measure would provide a $7 billion investment boost to the American Recovery and Reinvestment Act, a law passed by Congress in 2009 that provides stimulus and loans to the economy.
Trump, who campaigned on a pledge to revive the U.-S-trade deficit with China, has said that his administration will make a $3 billion investment in manufacturing in the next two weeks.
The new jobs will be created by Trump’s proposed border wall with Mexico, which he has said will be funded through renegotiations of the North American Free Trade Agreement.
The wall is scheduled for completion in the summer of 2019, but it is not expected to be complete until the second half of 2019.