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US-China trade truce seen as fragile after Xi-Trump summit
Analysts said the summit produced another tariff ceasefire extension and plans for targeted tariff reductions, but the deeper disputes remained unresolved.
The two-month extension of the US-China trade truce was described as fragile by analysts, who said modest economic concessions have not addressed deeper disputes. SCMP Economy cited Asia Society Policy Institute analysis ahead of Tuesday.
Wendy Cutler, a vice-president at the Asia Society Policy Institute and former acting deputy US trade representative, said the truce appears to be a test between the two sides, characterizing it as very fragile.
Cutler added that although Xi Jinping’s three-day state visit in Washington led to a further extension of the tariff ceasefire and plans for targeted tariff reductions, the economic results reflected little urgency, according to SCMP Economy.