I look forward to a trade deal with China in 2020, getting away from two steps forward, one tweet backward.Gary Shapiro President and CEO, Consumer Technology Association.
For this reason, our response publicly to the deal was muted. We applaud the president for reaching this deal but view it as a step towards a more comprehensive deal where all extra tariffs would be removed.
As a practical matter, I am skeptical that much will happen this election year. The Democrats have not criticized the deal, nor did they praise it. In fact, on the very day of the White House event, Speaker Pelosi held a press conference, voted on the impeachment and had a highly publicized delegation walk over the impeachment document to the Senate.
The good news for us a nation is that we are at a warmer place with China, are likely to see some stability through 2020 on the tariff front and the economy, and Wall Street has responded favorably to the deal. With the coronavirus and challenges with Hong Kong and Taiwan, China may be more amenable to warming its relationships with the U.S. While we still face huge long-term challenges, I look forward to a trade deal with China in 2020, getting away from two steps forward, one tweet backward.
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