The audible, global sigh of relief in the wake of last weekend’s decision by Presidents Donald Trump and Xi Jinping to negotiate trade war issues over the next 90 days was well justified. The deal is a big step forward for all concerned.
Why Trump and Xi’s 90-Day Trade Truce Is a Step in the Right Direction
The audible, global sigh of relief in the wake of last weekend’s decision by Presidents Donald Trump and Xi Jinping to negotiate trade war issues over the next 90 days was well justified. The deal is a big step forward for all concerned. While it is true that a comprehensive deal is very unlikely to be completed in the next 90 days, its should be obvious that presidents who can agree to talk for the next 90 days can also agree to talk longer if the first 90 days seem to augur something promising. If they don’t, then it probably makes sense to shut the talks down — and at least it will then be clear that we didn’t move rashly ahead to impose massive tariffs without giving negotiations an honest try and will garner more domestic and international support for some form of further trade actions if talks fail. The clear designation by President Trump of U.S. Trade Representative Robert Lighthizer as the key leader of the U.S. negotiating team is also good because he is a knowledgeable and tough negotiator.