New China trade deal ...
The U.S.-China trade deal that was signed Wednesday in Washington, D.C. looks to address a trade imbalance — and other issues — that hopefully will be on the way to correction.
Details of the deal are not completely clear, but according to Fox Business, the deal concerns more than $200 billion in Chinese purchases of American products, including up to $50 billion in U.S. crops. China also has agreed “to stop the theft of intellectual property and refrain from manipulation of its currency,” according to Fox.
The latter two points are significant, if they can be enforced and brought to meaningful fruition. President Trump has spoken repeatedly about how China has been “ripping off” the United States in its trade deals and currency manipulation for a long time.
The impact of this deal — like all trade deals — will be determined later, after implementation and the building of a track record.
But the fact that China has agreed to some of the things in this deal suggests the Chinese government knew it had unfair advantages in its trade relations with our country. Time will tell, but the deal at least looks promising at the moment.
China has been — and will remain — a very important trading partner for the U.S. The fairest deal possible with that country seems like common sense.