Precise Investors

Monday, August 15, 2022

Donald Trump chips away at long-standing trade issues with China

Beijing has once again agreed to lift its long-standing ban on U.S. beef and is making concessions to American payment card companies, according to new bilateral measures announced Thursday night; developments the Trump administration says mark a “new high” in U.S.-China relations.

It was at Mar-a-Lago just over a month ago that President Donald Trump and Chinese President Xi Jinping settled on launching an economic dialogue aimed at boosting trade between the two countries, and on Thursday night the Commerce Department outlined “initial results” of that 100-day effort.

The give-to-get described by officials included a deal to open the U.S. market to cooked poultry from China, and Beijing committing to allowing U.S. beef to enter its market before the end of the summer, capping a standoff for the latter product that goes back more than a decade.


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