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IPFS News Link • Tariffs

Trump and China to Sign Trade War Ceasefire on Wednesday

• by Mish

Hooray, we have a deal at last, assuming nothing happens between now and Wednesday. But serious issues linger.

The Wall Street Journal comments on How the U.S. and China Settled on a Trade Deal Neither Wanted.

The accord promises increased purchases of U.S. goods and services, greater access for American firms to China's banking, insurance and other financial sectors, an end to tariff threats—and a chance to reset relations between the world's largest economies. The two sides also have agreed to bi-annual meetings to discuss trade and economic issues.

Even so, the deal isn't what either side said it had wanted. The U.S. doesn't get the fundamental reforms in Chinese economic policy it sought to help American businesses. And levies remain on about $370 billion of China's exports.