US and China Sign Trade Agreement, But is the Trade War Really Over?
In the White House in Washington, the first phase of a Sino-US trade agreement was signed in the presence of US President Donald Trump and Chinese Deputy Prime Minister Liu-He.
In mid-December, the two economic superpowers had reached an agreement on this. According to observers, this is not much more than “a truce”.
“A win-win”, Chinese Deputy Prime Minister Liu suggested. “It is good for the two countries and the world”. All details of the agreement are not yet known, but the broad lines are.
In this “first phase” of the trade agreement, it is stated, among other things, that China will buy some 200 billion dollars worth of American products in the next two years.
“For agriculture alone, it’s about fifty billion dollars,” President Trump said proudly. But it is not just about soy and related, but also about (financial) services, energy and consumer goods.
The Americans promise to partially reduce the taxes that Trump himself introduced. But that can take a while, the US is still holding a stick.