Fox news: US, China want Phase 1 deal on paper by end of next week (and get back to where we were).

Author: Greg Michalowski | Category: News

Well....that would be good news

Fox is reporting that US, China 1 Phase 1 of the trade deal on paper by the end of next week.  I assume that means "and ready to be signed".  

There is no further details on where the signing will take place (does it really matter except for a photo op).  

There is still a long way to go, but it seems, the US is getting tired of 1-2% growth (whether they admit it or not the uncertainty from US/China has hurt US business investment and not been great for trade overall). China is not happy either. 

So heading back to pre-tariff levels is a step in the positive direction (after taking steps backward).  

What still remains are most of the the "seven deadly sins" which are:

  1. Stop stealing our intellectual property,
  2. Stop forcing technology transfers, 
  3. Stop hacking our computers, 
  4. Stop dumping into our markets and putting our companies out of business, 
  5. Stop state-owned enterprises from heavy subsidies, 
  6. Stop the flooding of fentanyl in the US, and
  7. Stop the currency manipulation
The two easier ones on the list would seem to be 6 and 7.  

The flood of fentanyl is leading to a massive amount of deaths and addictions.  Currency manipulation is easily solved by simply realiizing that currency manipulation is certainly not as bad as it used to be.  

The other 5 on the list are tougher to solve, and hard to police as well.  I am not sure that there will ever be a black and white deal, but if both sides can "fuzzily" agree that there should be some "rule of law", perhaps that will be good enough.   

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