This archive report was first published on 13 December 2019.
On the eve of a new round of tariffs, the U.S. and China have reached a partial trade deal that addresses some of the key concerns of American farmers and businesses.
According to sources, Chinese negotiators have agreed to purchase significant amounts of American soybeans, poultry, and other goods, which should help alleviate the pressure on American farmers caused by the trade war.
As part of the deal, the U.S. has agreed to remove some of the existing tariffs on Chinese goods, with the goal of narrowing the trade gap between the two countries.
However, the deal has not been without controversy. Some American analysts have criticized the approach, arguing that a significant reduction in tariffs could leave the U.S. with less leverage in future trade negotiations.
Others have pointed out that the depreciation of China's currency, the renminbi, this year could almost offset the effect of the tariffs.
Despite these concerns, the partial trade deal is seen as a positive development, with companies eagerly awaiting the official announcement that will stop the new tariffs from going into effect.
Published on December 13, 2019
