As trade representatives for the United States and China appear to be nearing a deal that would lift tariffs that both sides have levied on one another, questions still remain about whether the deal will actually be an impetus for the kind of change in Chinese trade practices that the Trump administration wants to see.
From what is known of the deal as it’s being hammered out between negotiators in Washington and Beijing, in return for the U.S. lifting the tariffs it has imposed, China would make big buys of American energy and agricultural goods like liquefied natural gas and soybeans in an effort to address President Trump’s concerns about a bilateral trade deficit. They would also lift the tariffs they imposed on the U.S. in retaliation to the tariffs Mr. Trump imposed.
The more difficult sticking points will have to do with protecting U.S. intellectual property and creating an enforcement mechanism to do so.
What has been the effect of the trade war both domestically and in China? What do we know about the deal so far, and what will be stickiest negotiating issues?
With guest host Libby Denkmann
William Lee, chief economist at the Milken Institute, an economic think tank based in Santa Monica; he specializes in Asia, trade, the global economy, job creation and more
Clayton Dube, director of the U.S.-China Institute at USC