US President Donald Trump on Monday said that America's relationship with China has taken a "BIG leap forward" and he was willing to have a trilateral discussion involving Russian Federation to reduce the arms race, a day after his meeting with Chinese President Xi Jinping on the sidelines of the G20 Summit in Argentina.
The war isn't over, but it'll cool as 2018 comes to an end.
Critically, that includes the previously slated January 1 increase from 10 to 25 per cent on some US$200 billion in Chinese goods.
The White House said Saturday that China had agreed to purchase a "very substantial" amount of agricultural, energy, industrial and other products from the United States. But as trade lawyer and Cato Institute scholar Scott Lincicome points out, "with no joint statement and list of actual/concrete deliverables, how will both sides (and the public) measure success or failure in 90 days?"
"What he's saying to his own people has more long-term validity than what he's saying to Trump over dinner for the sake of everyone saving face", Khanna said.
"China has pretty much given up nothing in this deal because the future tariffs threatened from the Beijing side were retaliatory in nature and only to be applied if the United States escalated", Stephen McDonell, the BBC's China correspondent in Beijing explained.
This is where what wasn't addressed at the G20 takes on particular importance.
The move would bolster United States carmakers who were hit hard when China ramped up levies on US-made cars in July as part of a broad package of retaliatory tariffs amid the sprawling trade war between Washington and Beijing. The agreement "is not a ceasefire, it's just a de-escalation", he said.
Trump, as often in his diplomatic dealings, appears to consider his personal chemistry with Xi the most important factor in the success of the negotiations. "The Administration is right to demand reforms that liberalize the Chinese market and ensure fair treatment of USA companies", said the group.
Still, analysts cautioned the deal may have only bought some time for more wrangling over deeply divisive trade and policy issue, and said China's economy will continue to cool regardless under the weight of weakening domestic demand.
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Fentanyl and other synthetic opioids now rank as the deadliest abused drug in the US, accounting for nearly half of the more than 70,000 overdose deaths in 2017, according to the Centers for Disease Control and Prevention.
Trump declared widespread opioid abuse a public health emergency in October 2017 and vowed to use the federal government's legal powers to pursue companies that help fuel the epidemic.
As more careful practitioners of the English language would note, "reduce" and "remove" are two different things.
Xi would do well to follow up this gesture with significant action against major fentanyl producers. "Farmers, I LOVE YOU!"
In a White House press release, Trump was quoted as saying that this was an fantastic and productive meeting with unlimited possibilities for both the United States and China.
The dinner table diplomacy that Presidents Donald Trump and Xi Jinping of China conducted over the weekend produced something as vague as it was valuable: an agreement to keep talking.
Ultimately, a meaningful, lasting deal is unlikely in the 90-day window.
"The price spike in Chicago soybeans and the fall in Dalian is a normal market reaction to the U.S".
U.S. Trade Representative Robert Lighthizer has been helping to lead trade talks for the administration on multiple fronts, including China.
This is all to say that while investors might breathe easy in the coming days, it's best not to lose sight of the forest for the trees. In doing so, they cited the trade conflict as well as political uncertainty.
The details remain to be ironed out.