Doubts Linger Over US-China Trade Truce
“This is just an enormous, enormous event.” That’s how Larry Kudlow, President Donald Trump’s chief economic adviser, described Saturday’s trade cease-fire between Beijing and Washington. Yet several days after the agreement, observers are still struggling to understand what it entails. Despite Trump’s claim that China would “reduce and remove” all auto tariffs, a Chinese official declined to comment. And when pressed on the agreement, Kudlow equivocated: “I’ll call them ‘commitments’ at this point.” Meanwhile, stocks and oil prices rose while bonds dipped in a sign of investor anxiety.