The Trade Agreement between China and the U.S., as any agreement does, imposes obligations or grant rights to the parties. As it is known by the public, the Chinese agreement versions are generated from translation of the English version instead of being independently negotiated, yet both versions are equally effective. The differences between the two legal systems, between the two languages, and even between the mentalities of the two peoples all play an important part in the execution of the agreement. Every word, complex or simple, is closely associated with obligations and rights, and negligence in translation is not acceptable. The present study aims to make some suggestions for the improvement of the Chinese version and call attention to the issues likely to be hidden at the back. Research in related areas is relatively scarce. This study, expounding from translation and legal perspectives, might contribute to clarifying the obligations and rights of the two contractual parties and the academic circle. And it tentatively proposes the new term of paradigm equivalence.