Washington and Beijing earlier this month announced a “phase pne” trade deal, de-escalating their nearly two-year trade dispute as Trump reduced or canceled some tariffs while Beijing promised to adopt trade reforms and buy more US farm exports. “I will be signing our very large and comprehensive Phase One Trade Deal with China on January 15,” Trump tweeted. While the detente put a stop to further deterioration in the trade dispute, it leaves many of the barriers erected so far in place. The two economic powers have been locked in a bruising trade dispute since the first half of 2018 that has roiled the global economy and helped send the manufacturing sector into decline. Observers say in that time, the trade dispute might have ushered in a long-term decoupling of trade relations between the world’s two largest economies.

Source: Taipei Times January 01, 2020 16:07 UTC