Trump vaunts his China trade pact – but some say it’s too little, too late
by Phillip Inman from on (#4XRZ8)
While a cessation in hostilities is welcome, businesses have a lot of ground to make up, and few expect any further progress
The trade war with China is over; long live the trade war. That is the message from Donald Trump as the US president promotes a pact with Beijing that has both settled the frayed nerves of traders across the world's financial markets and put those same traders on notice that the battle will continue for years to come.
This week the White House is expected to publish details of a first- phase deal that cuts the import tariffs from 15% to 7.5% on more than $100bn of Chinese imports as soon as the agreement is implemented. The deal is expected to be signed on Wednesday, although Trump said on Friday it might be "shortly thereafter".
There's been a lot of disruption and pain, and there hasn't been a lot of progress on the most important issues
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