The vague agreement reached by US and China officials over the countries’ trade dispute will only offer a temporary solution, given that deeper, longer-held grievances surrounding the wider economic relationship have not been resolved, some analysts have argued.
While Saturday’s joint statement read that both sides “attach paramount importance to intellectual-property protections,” no specific measures were outlined.
US Treasury Secretary Steve Mnuchin said that issues such as intellectual property rights and national security threats would remain part of ongoing negotiations, adding that Washington reserves the option of re-instating the previously proposed tariffs should there be no progress.
The statement marks “little more than a brief de-escalation of tensions,” Eswar Prasad, a trade policy professor at Cornell University, told Bloomberg.
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