Listen: Trump says first phase of trade deal reached with China
"Trade negotiators from the US and China have reportedly reached an initial deal that might end the eighteen month trade war. President Trump tweeted yesterday. That a quote big deal with China was very close. Here in studio is Scott Kennedy. He's the trustee chair in Chinese business and economics at the Center for Strategic and International Studies. Thanks for coming in good morning. Okay okay so do we know whether this deal is happening for sure. We don't. It's very likely that it is But we've had four other premature announcements and so we don't want to say for sure Until the Chinese Confirm it and on Friday. They did not all right. We're not GONNA do that on morning. In addition do we know what's in this. This initial deal was proposed. Deal not hundred percent because no one's seen a text yet but most likely it includes Some Chinese concessions Russians to buy American products some concessions regarding intellectual property rights and other things and then a step down in tariffs from both sides. Okay okay is it possible based on sort of looking at what the US gets out of this. And what China gets out of this to say which country comes out the winner what say in the short short term The Chinese come out ahead of the. US really doesn't get what it was originally looking for which was trying to constrain Chinese industrial policy instead instead it sells some products To the Chinese which probably would have been sold anyway from China's perspective they get their us off the back for a while At at least through the rest of the first trump administration okay at the root of this trade war as you point out is a fight about intellectual property the United States has China takes aches from US companies that want to do business in China and that is simply unfair. President trump talks about this all the time. Does this deal sort that out. A little bit of the Chinese Janis have changed. Some of their laws to Step up protection of intellectual property rights to punish those who who steal it Liberalize is there economy to make it a little bit harder to course American companies but overall It's GonNa take a while to see if those promises really translate into actual activity in in the meantime Chinese subsidies and other things that promote Chinese industry at the expense of others. won't stop"