Trade Agreement With China

In April 2018, China announced the removal of laws requiring global automakers and shipbuilders to work through state partners. [197] Chinese President and General Secretary Xi Jinping reiterated these commitments,[198] reaffirmed the desire to increase imports, reduce restrictions on foreign ownership in production, and extend intellectual property protection, all key issues in Trump`s complaints about their trade imbalance. [199] Trump thanked Xi for his “kind words on tariffs and auto barriers” and for his “clarification” on intellectual property and technology transfer. “We will make great progress together!” the president added. [199] In December 2019, the South China Morning Post reported that due to the GOC`s trade war and crackdown on the shadow banking sector, Chinese investment in production grew at the slowest pace since registration began. [228] And even some Trump administration officials have been cautious about reviving a tariff war that would shake markets and likely result in the S&P 500. SPX, which traded this week near records. President Trump on Wednesday signed a first trade deal with China, which completes the first chapter of a long and economically damaging struggle with one of the world`s largest economies. A September 2018 article by Brahma Chellaney stated that the U.S. trade war with China should not mask broader opposition to mercantilist practices in trade, investment, and lending. [334] The United States and China must renegotiate important policies that are not affected by the Phase 1 agreement.

Trump`s trade war has failed to address what was really shaking the U.S.-China trade relationship. It is time for a new approach. Trade experts have said there is little upside political potential for the U.S.