The China U.S. truce has agreed to a 90 day pause in the trade war during the G20 Summit meeting in Argentina.
Mr. Kudlow comments on the China U.S. truce as follows: “The president has indicated if there’s good, solid movement and good action, he might, he might be willing to extend the 90 days. We’ll have to see on that,”
President Trump has agreed to hold off on increasing any more tariffs, while China has agreed to purchasing “not yet agreed upon, but very substantial” amount of agricultural, energy, industrial and other products from the US to reduce the trade imbalance between them. The leaders of both countries will meet in March 2019 to negotiate further.
Mr. Kudlow, Trumps economic advisor also said:
the trade talks with China are “extremely promising.”
The reaction from the public has been mixed. Some believe that this is a sign that the end of the trade war may be in sight, and mutually beneficial solutions may soon be discussed. Others say the truce doesn’t solve anything and is a pyrrhic victory at best. General Secretary Xi Jinping may be hard pressed to make concessions he may not want to, causing him to lose face, which could reignite the trade war.
China U.S. Truce – A breath of fresh air
Many companies worldwide are breathing a sigh of relief.
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Sources: CNBC Image Copyright : alphaspirit