The First Phase Agreement Between US and China
The phase one trade deal between the United States and China has not really guaranteed an end to the dispute between the two nations. This had been the words of Myron Brilliant, the American Chamber of Commerce vice-chairman.
As outlined by Brilliant, the trade agreement is anticipated to be agreed upon sealed by signatures. This clearly shows that pressure involving the two camps is easing. Brilliant added that there is more to the agreement that it had been previously envisioned.
As we all know, he has attended briefings on the content of the contract but has not yet seen the text. “In order to build trust and certainty, the implementation of ‘Phase 1’ is very important,” Brilliant said.
He said, but even though the preliminary contract “eases the bleeding,” it did not end the dispute. China carries on to support its own industries, while the United States still imposes import tariffs on Chinese goods worth billions of dollars. Therefore, it is expected that the contract extension will be more difficult.
Several critics have also questioned the implementation of existing contracts. Included in the agreement, China should significantly expand its acquisitions of American agriculture products.