Ceasefire declared in US-China trade dispute

The outcome of the weekend Xi-Trump meeting in Argentina was positive, according to Jacob Parker of US-China Business Council. “Both sides have recognized that a trade war harms all parties involved,” Parker explained. “Particularly in the United States, the tariffs have harmed American farmers, American consumers and the businesses that involve both exporting products from China and also those who have upstream imports from the United States. President Trump is uniquely aware to that because much of his constituencies are made up of those parties. In China, there is clearly an interest in continuing to negotiate with the United States, they’ve made that very clearly from the beginning. So returning to a framework where both sides can engage on the challenges that they see in the relationship is a positive outcome for the Chinese and it’s the one they’ve found objective to pursue for the last number of months.”