fredag 3. januar 2020

Trump’s China Agreement Is A Fake Deal

We have a trade deal! Should we pop the champagne corks? If so, we better hurry. The Trump administration wants to slam 100% tariffs on French champagne—retaliation for France’s new digital services tax. This trade war has more than one battlefield.

But China is the biggest, and last week the Trump administration said it had reached a “Phase 1” agreement with China. The president postponed a new round of tariffs that would have taken effect Dec. 15. That’s about where the good news ends, though. Everything else is what Silicon Valley cynics call “vaporware.”

Maybe this deal will develop into something worth celebrating. But it’s not there yet.