Economics
Why the U.S.-China Trade Truce May Not Last
- Mnuchin says ‘we’re putting the trade war on hold’ amid talks
- Deeper reforms required to help cut bilateral trade imbalance
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The U.S. and China declared a truce in their trade dispute over the weekend, but that will prove temporary if the world’s two largest economies fail to deliver on their vague commitments to re-balance trade.
“We’re putting the trade war on hold,” Treasury Secretary Steven Mnuchin said Sunday after the two sides released a joint statement a day earlier. “Right now, we have agreed to put the tariffs on hold while we execute the framework.”