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Politics : The Trump Presidency
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To: Katelew who wrote (150318)1/18/2020 11:40:02 PM
From: bentway  Read Replies (1) of 361341
 
5 Takeaways From Trump’s New China Trade Pact

The agreement may help him get reelected, but it’s only a truce, not a free trade deal.

BY KEITH JOHNSON | JANUARY 16, 2020, 12:48 PM
foreignpolicy.com

The much-touted “phase one” trade agreement between the United States and China was finally unveiled Wednesday and, contrary to U.S. President Donald Trump’s claims that it is “[o]ne of the greatest trade deals ever made,” remains as underwhelming as when the outline was made public last month.

Essentially a cease-fire agreement in what had threatened to escalate into an all-out trade war between the world’s two biggest economies, the new agreement is a big purchase order for U.S. goods, topped with plenty of rehashed Chinese promises of reforms in areas like intellectual property protection, and leavened with a novel enforcement mechanism that has never been tried before in a trade deal. With U.S. farmers hurting badly from the trade war in an election year, the deal promising tens of billions of dollars more in purchases of soybeans and other agricultural products appears at least partly designed to boost Trump at the polls in November.

Here are five takeaways from the just released text of the new U.S.-China agreement.

..more @ link
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