'Though investors were relieved to see Sunday's threatened tariffs removed, US stock markets didn't appear to like the deal much.
Trade economist Mary Lovely said the deal could only be viewed as a "partial win" which "didn't move the needle very much."
The gains do not compensate for the damage to US farmers and businesses, she told reporters.
"President Trump is desperately trying to get back to where the economy was 18 months ago," before taking this "unilateral, brute force approach," Lovely said.'
Read more at https://www.channelnewsasia.com/news/asia/china-us-phase-one-trade-deal-agreement-tariffs-12183174
Trade economist Mary Lovely said the deal could only be viewed as a "partial win" which "didn't move the needle very much."
The gains do not compensate for the damage to US farmers and businesses, she told reporters.
"President Trump is desperately trying to get back to where the economy was 18 months ago," before taking this "unilateral, brute force approach," Lovely said.'
Read more at https://www.channelnewsasia.com/news/asia/china-us-phase-one-trade-deal-agreement-tariffs-12183174
The news of the closing of the first phase of trade negotiation between China and the US did not move the market much though Trump and his merry men claimed victory, that they have scored a big success. Trump's comments in the above news said it all. The US economy is not what it was before the trade war. The farmers would never get back to what they did in sales to China. What the Americans got to pay for all the Trump meddling was more tariffs and taxes to pay for their goods from China.
It is a case of burning down a house and trying to rebuild a new one, a smaller one that would not be better than before and claiming victory and success. This is the gist of Trump folly. To him it is all just a game, you win some, you lose some, but claiming success and victory all the while when the American people at large and the farmers are the real losers.
Trump will continue to lie to the American people that he has made America greater again. What he has done is to make the average Americans poorer by have to pay more for their purchases and consumption of daily necessities. The dumb Americans, like daft Singaporeans, believe him.