CBS Evening News - 1995-02-26
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Read a transcript preview of “CBS Evening News - 1995-02-26” from malgent, uploaded on 2026-02-22.
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Language: English (original, YouTube automatic captions)
[0:05] The United States and China avoid a
[0:07] trade war with a final hour agreement.
[0:10] And surgeon general nominee Dr. Henry
[0:12] Foster defends himself against charges
[0:14] linking him to a controversial
[0:16] experiment.
[0:18] This is the CBS Evening News
[0:26] and this is Bill Lagatuda reporting.
[0:27] Good evening. The United States and
[0:29] China averted a huge trade war today
[0:32] just as both sides were preparing to
[0:33] launch punishing tariffs at one another.
[0:36] At almost the last minute, an agreement
[0:38] was reached that would, among other
[0:39] things, stop the modern-day piracy of
[0:42] American goods in China that cost the US
[0:44] a billion dollars a year. Correspondent
[0:46] James Hattorii has details.
[0:49] It was champagne and smiles in Beijing
[0:51] tonight. An 11th hour agreement after 20
[0:54] months of tough negotiations on
[0:56] intellectual property rights that nearly
[0:58] sparked a trade war with China.
[1:01] >> The Sino US relationship is a complex
[1:06] and often turbulent one. It's a $37
[1:09] billion a year trade relationship for
[1:11] the Chinese, who in the end wanted to
[1:13] avoid antagonizing their biggest
[1:15] customer and avoid more than a billion
[1:17] dollars in punitive tariffs.
[1:21] >> Economic and commercial interests were
[1:23] the most important basis for the
[1:24] agreement, according to China's top
[1:26] trade official. Among the provisions,
[1:28] beefed up enforcement against pirates,
[1:30] an immediate halt to exporting of fake
[1:32] goods, and increased access for US
[1:35] music, movie, and computer software
[1:37] companies to sell their products in
[1:39] China.
[1:40] >> China has committed itself to put in
[1:42] place practices that will both protect
[1:44] our ri