Trump's “phase one” trade deal leaves China with a massive advantage
—at this point, there’s no suggestion that he is, once again, just making shit up as he goes along. That’s the good news. The less-good news? His big, terrific phase one deal appears to accomplish very little, and on a matter that both the president and his top advisers have said is crucial to bringing fairness to the markets, literally no progress has been made. Per thePresident Trump’s trade deal with Beijing leaves untouched the marriage of business and government known as China Inc.
White House officials have acknowledged that some key issues remain unresolved. Lighthizer has said “a lot of hard things” have been left to future talks, which most analysts say will be arduous and unlikely to bear fruit before the November election. Bargaining over industrial subsidies is expected to be particularly tough.
In other words, one of the major reasons Trump launched his trade war has yet to be resolved, and while getting a “phase one“ deal sounds well and good, it’s not at all clear that President
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