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Trump has won little from China so far. There isn't an 'incredible' deal yet.
Source: Washington Post
Trump has won little from China so far. There isn’t an ‘incredible’ deal yet.
By Heather Long
December 3 at 12:14 PM
President Trump claims he secured an “incredible” trade deal between the United States and China over the weekend. In reality, Trump and Chinese President Xi Jinping struck a truce to pause the tariff blows, which is far from a sweeping trade pact.
Trump claims there were real breakthroughs on agriculture and cars, as well as Chinese theft of American intellectual property. In tweets Monday, Trump called the meeting with Xi on the sidelines of the Group of 20 summit in Buenos Aires “extraordinary” and promised “big and fast” benefits for farmers.
But China’s readout of what happened in Argentina is different. China seems to believe that the only real movement was an agreement to halt additional tariffs and a mutual commitment to reduce the ones Trump and Xi put into effect this year.
In other words, Trump makes it sound like China is starting to cave to his demands. Top Chinese officials make it sound like the only thing that’s about to change is that U.S.-China trade relations would go back to where they were in January — before Trump unleashed his tariff war.
-snip-
By Heather Long
December 3 at 12:14 PM
President Trump claims he secured an “incredible” trade deal between the United States and China over the weekend. In reality, Trump and Chinese President Xi Jinping struck a truce to pause the tariff blows, which is far from a sweeping trade pact.
Trump claims there were real breakthroughs on agriculture and cars, as well as Chinese theft of American intellectual property. In tweets Monday, Trump called the meeting with Xi on the sidelines of the Group of 20 summit in Buenos Aires “extraordinary” and promised “big and fast” benefits for farmers.
But China’s readout of what happened in Argentina is different. China seems to believe that the only real movement was an agreement to halt additional tariffs and a mutual commitment to reduce the ones Trump and Xi put into effect this year.
In other words, Trump makes it sound like China is starting to cave to his demands. Top Chinese officials make it sound like the only thing that’s about to change is that U.S.-China trade relations would go back to where they were in January — before Trump unleashed his tariff war.
-snip-
Read more: https://www.washingtonpost.com/business/2018/12/03/trump-has-won-little-china-so-far-there-isnt-an-incredible-deal-yet/
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