US, China Exchange Trade Concessions
“It was a big move.” That’s how President Donald Trump described China’s decision yesterday to exempt 16 types of American imports, such as cancer drugs and animal feed, from new tariffs. In response, he announced that he’d delay a planned U.S. tax hike on $250 billion worth of Chinese imports by two weeks “as a gesture of good will.” Those tariffs will now kick in Oct. 15.
Does that mean the trade war is ending? Not so fast, analysts warn — arguing that China’s exemption doesn’t fundamentally change its stance, while Trump’s motivations still remain unclear.
Don’t miss OZY’s profile of the man behind Trump’s trade war.