“President Trump has focused on a phase one agreement that has significant and fully applicable structural changes and is beginning to rebalance U.S.-China trade relations. This unprecedented agreement achieves these very important goals and would not have been possible without the strong leadership of the president,” said U.S. Trade Representative Robert Lighthizer. This could be the end of Act 1, but far from the end of trade negotiations. China will continue to rely on industrial policy and the public sector to lead growth. The role of so-called enterprises is strengthened and not weakened during this economic downturn, and the policy of openness is rather limited,” she said. “This is a buy-and-sell contract that does virtually nothing to allay major U.S. (remaining world) concerns about China`s business practices.” The United States and China announced on December 13 that they had agreed to their “Phase 1” trade agreement, a major development in the 20-month trade war. In exchange for facilitating tariffs, China will increase its purchases of U.S. products and allay U.S.
concerns about intellectual property protection (IP), currency manipulation and agriculture, among others. It is not certain that these issues will be included in the final text of an agreement. That means Mr. Trump`s trade war has not yet reached what he had planned. According to both sides, China and the United States reached an initial agreement to settle a bloody trade war between the two countries. The International Monetary Fund estimates that the trade war between the United States and China could result in a nearly one-percentage-point reduction in global growth this year. Asked about the progress of trade talks at a daily briefing on Friday, Chinese Foreign Ministry spokeswoman Hua Chunying reiterated Beijing`s commitment to resolving the outstanding issues, but that an agreement should be beneficial to both sides. It did not rule on whether the two sides had agreed on an agreement or on the terms of an agreement. Trump “signs” an agreement to end the trade war between the United States and China. U.S. Treasury prices gained moment worth wednesday, saying talks could be postponed, while some investors repositioned themselves even after three days of paydays.
The dollar slipped and the three-day global stock rally held steady as U.S. productivity data disappointed and investors were a little cautious in U.S.-China trade negotiations. As former USTR Mike Froman said, this should not be called a trade agreement. It is a buy-and-sell agreement that does virtually nothing to address the major concerns of the United States (the rest of the world) about China`s trade practices. “U.S. farmers” – consumers have paid a high price. t.co/uqwbAKefeQ “China and the United States have agreed on the text of a first phase economic and trade agreement based on the principle of equality and mutual respect,” China`s state-run Xinhua news agency reported on Friday.