Trump’s Dud of a Deal Shows the Futility of Trade War
It’s good when a nation stops punching itself in the face, but how much better if it hadn’t started.
Back to business as usual.
Photographer: MARK RALSTON/AFP/Getty Images
After almost two years of tariffs, counter-tariffs, meetings, bad-tempered tweets, and backroom maneuverings, we may finally be on the brink of the first part of a hoped-for trade deal between the U.S. and China. It wasn’t worth it.
President Donald Trump has signed off on an agreement to de-escalate his conflict with Beijing, people familiar with the matter told Bloomberg News. Discussions will focus on the U.S. reducing tariff rates on Chinese imports by as much as half and delaying pending ones, while Beijing will agree to purchase U.S. farm products and do more on intellectual-property theft, officials said.