I’m Mary Walden with economist MW, welcoming you to the economic perspective. Today’s program looks at a phase one China deal. Mike, recently it was announced an initial agreement was reached with China over settling our trade disputes with that country. What do we know about this agreement?
Mike: Summary Answer
- Don’t have all the details – but called phase one because doesn’t address all the issue
- Will mean no new tariffs and rollback in some existing tariffs
- Agreement by China to buy more US farm products – but don’t know how much
- The two big contentious issues – China’s subsidy of companies that compete with our companies, and China’s use of tactics to acquire secrets of our companies doing business in China – are not addressed
- But many view the deal as positive
- Stay tuned
- I’m MW
Mary: And I’m Mary Walden for the Economic Perspective, an NC State Extension program from the Department of Agricultural and Resource Economics.