By trying to take on China alone on trade, the US failed to achieve real results in its first trade deal, says trade-veteran Harry Broadman to Bloomberg. China did not adhere to the multilateral trade deal it closed by joining the WTO, but Donald Trump failed to address the issues related to that.
Analysts watched the ‘announcement’ of a first trade deal between China and the US with amazement. Former US trade negotiator Harry Broadman points out that typically you wait till you have something in writing, in both languages, to avoid hiccups before the signing, he explains to Reuters.
Former trade negotiator Harry Broadman warns at Bloomberg the trade war is far from over despite positive sounds on the phase 1 agreement. US President Donald Trump seems more engaged in winning the 2020 presidential elections than ending the trade war. And he introduces agricultural deals for the US that
Trade negotiations between the US and China have moved away from substantial issues, as the Trump administration is using the ongoing trade war as a tool to win the presidential elections in the US 2020, says Harry Broadman, former top trade and economic adviser to Presidents George H.W. Bush and Bill Clinton to CNBC.
The US administration is trying to decouple its economy from China’s. And while there might be some arguments in favor of that position, the treat of decoupling for the world economy is huge, says international trade expert Harry Broadman in Forbes (here in pdf-format). Down the line, the US and global economies will be worse off, he warns.