US-China phase one trade deal still carries three risks - FT
|The latest editorial piece published by the Financial Times Thursday highlights the concerns that business have with the phase one trade deal signed by the US and China on Wednesday.
Key Quotes:
“Left billions of dollars of US tariffs on Chinese goods in place.
Doubts about whether the truce will stick.
A desire for US officials to complete the work by extracting further structural concessions from Beijing.
The risk of a new escalation in tariffs and tension in the near term - and possibly even until after the November 2020 presidential election - is lower.
There is still broad concern in corporate America that the truce is fragile and limited.
If the Trump administration believes that China is not living up to its commitments, it could quickly and unilaterally move to impose new tariffs on Chinese goods, leading to a new escalation.”
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