If a handshake agreement holds, it will merely undo some of the damage from the trade war that President Trump started.According to The New York Times, a handshake agreement was reached between the United States and China after two days of tense negotiations. This agreement aims to remove some of the harmful measures that were implemented by both countries in their ongoing trade war. However, it is uncertain whether this truce will hold or crumble like a previous one in May. Even if it does hold, the main accomplishment seems to be returning to the status quo from several months ago, before President Trump’s actions escalated tensions with China. The tariffs will remain in place and further details are limited, but it is expected that China will loosen restrictions on exports of minerals and the United States will relax limits on its own exports of technology and products. The threat of canceling visas for Chinese students in the United States will also be walked back. However, this agreement is seen as merely undoing some of the damage caused by the trade war, rather than making significant progress.
Source:Read More