The US gained very little in its trade agreement with China, says trade veteran Harry Broadman on NBC News. The text on trade secret does not add any value, and the US firms and consumers pay the price for tariffs, he says.
“On trade secrets, to be honest, the language that’s in the agreement is pretty loose and generic,” said Harry G. Broadman, managing director at Berkeley Research Group who chairs the firm’s emerging markets practice. “On the face of it, I don’t see — at least on that portion of the agreement — a lot that’s significantly different from previous types of agreements.”
Some of the practices and changes agreed to by Beijing were changes that were already in the works or had been previously agreed-upon…
“The people who are paying the tariffs are U.S. firms and U.S. consumers,” Broadman said. “It’s not clear to me what the actual economic impact will be as a dispute resolution measure to ‘threaten’ China with more tariffs.”
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