The ceasefire in the US-China trade war is a victory for the head of the White House, Donald Trump, and good news for the whole world, Die Zeit writes. вЂњNo new duties, no new insults. And accordingly, no new uncertainty on world exchanges, and most importantly вЂ” no serious fears about the next aggravation in the fragile relations of the two most powerful states in the world. Is it a success? Undoubtedly, вЂќ argues the author of the article, Klaus Brinkboymer.
The fact that the first stage of a trade deal with China really was agreed, shows that compromises and even reaching agreements in politics are still possible, the German journalist emphasizes. This was shown by the EU countries at the climate summit in Madrid. Not all actions of politicians are based on selfishness; they can not only destroy, the publication states.
Although, it is worth noting that Trump has only been doing this lately. He destroyed everything he could: the Paris climate agreement, the nuclear agreement with Iran, the INF Treaty with Russia and the NAFTA North American trade agreement. In addition, he introduced duties against China and the EU, showing the helplessness and futility of the World Trade Organization. At the same time, the US president constantly promised that he would conclude new, more profitable deals, but this did not happen.
Now, at least in the case of China, some progress has been outlined, however, it has not been possible to claim much from Beijing. China showed endurance and steadfastness in a trade conflict with the United States, not afraid of threats, so in conclusion, it was still negotiations on equal terms.
In addition, the Americans failed to achieve the main goal: they wanted fair competition with Chinese companies, which are supported and subsidized by the state. But these points are planned to be discussed only at the second stage of the trade transaction. Nevertheless, China agreed to buy $32 billion of American agricultural products in 2020. Apple and other technology concerns may not be afraid of duties so far. In addition, American banks and American companies providing payment transaction services will be able to work in the Celestial market without the participation of Chinese partners.
Trump probably also thought about the political consequences of this agreement, especially against the background of the impeachment procedure. The fact is that in 2016 many farmers voted for him, and a large number of bankruptcies among them this year and a recession in 2020 would not have helped him to be re-elected. Now the situation in agriculture will improve again. So in the upcoming elections, the Democrats can lose the most from this agreement, Die Zeit concludes.