New Trade Deal With China Does Almost Nothing For The United States
The U.S. and China have such different economic and political systems and different sets of values. We may have to settle our differences through other means, beyond a trade agreement.
By Helen Raleigh
December 17, 2019
Last Friday, U.S. and Chinese officials confirmed that that two nations reached a “phase one†trade deal. After more than two years of uncertainty, this is welcome news for many. Yet it is concerning because so few details of the agreement have been made public, and a deal-signing date has yet to be announced.
What’s in the Trade Deal?
According to the Wall Street Journal, the United States agreed not to impose new tariffs on $156 billion in consumer goods, including smartphones and toys, that were going to take effect Dec. 15. The United States will also cut the tariffs on $120 billion in Chinese imports imposed in September from 15 percent to 7.5 percent. But the United States will maintain the 25 percent tariffs on a separate $250 billion in Chinese imports for now as an incentive for China to engage in phase two trade talks.
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https://thefederalist.com/2019/12/17/new-trade-deal-with-china-does-almost-nothing-for-the-united-states/
