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US-China relations
OpinionComment

Why Trump’s trade deal with China is unworthy of America

Robert Boxwell says the US has accepted low-potential Chinese promises in a bid to close the trade deficit, especially with key bargaining chips like North Korea and the South China Sea left off the table

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Robert Boxwell says the US has accepted low-potential Chinese promises in a bid to close the trade deficit, especially with key bargaining chips like North Korea and the South China Sea left off the table
Robert Boxwell
None of the components of this “early harvest” look like they will do much to create jobs or otherwise make the US more competitive, essentially the promise that carried Trump into the White House. Illustration: Craig Stephens
None of the components of this “early harvest” look like they will do much to create jobs or otherwise make the US more competitive, essentially the promise that carried Trump into the White House. Illustration: Craig Stephens
America’s “early harvest” trade deal with China, ­announced by the Trump administration, is underwhelming. One could be forgiven for thinking cynically that the announcement last week, coming the day after President Donald Trump fired FBI director James Comey, was an attempt to change the subject.
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According to the “joint release”, as the announcement was styled, the two sides made some promises. Beijing agreed to issue guidelines to allow US-owned card payment ­services, like Visa and MasterCard, “to begin the licensing process”; to allow US credit ratings agencies to provide services; and to allow ­imports of US beef.

The US will do something vague related to exports of liquefied natural gas to China and reach “a consensus” with it to “resolve outstanding issues” for the import of “Chinese-origin cooked poultry”.

One can’t help but get the feeling that nothing has changed in the way the US does business with Beijing – accepting promises for future benefits that may or may not arrive as ­advertised.

Trump said of President Xi Jinping (習近平) last week: “I think he likes me a lot.” He probably got that much right.

Watch: Trump says he has developed a friendship with Xi

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