by In response to what President Donald Trump called a substantial “phase one” deal, tariffs on Chinese goods set to go into effect this week have been postponed indefinitely. The US agreed to forego, for now additional import taxes on about $250 billion in Chinese products, but some say China did not do much to deserve the reprieve.
“What the U.S. is getting is purchases and several elements of nonsense,” said Derek Scissors, an expert on China at the American Enterprise Institute, before the announcement. “Today seems to be another ‘China-is-Great’ day, but future talks face a higher risk.”
The agreement does not address the biggest concerns the US has about the state-run Chinese economy that ignited the trade war in the first place.
Trump also announced that there will be another phase of trade talks, adding that he planned on signing the first phase during the upcoming Asia-Pacific Economic Cooperation leader’s summit, when he meets directly with Xi Jinping, the President of China.