A partial US-China deal may only offer a temporary tariff reprieve because it lacks specifics and leaves the thorny issues for later, analysts said, allowing both economic powers to claim success.
"The lack of specificity and even the fact this baby stepped agreement could take weeks to iron out, quickly cooled trader optimism," said Axi Trader analyst Stephen Innes. Trump said China had pledged to rapidly increase purchases of American farm products to $40-50 billion -- a stunning feat, and more than double 2017 levels."Substantial progress had been made in such areas as agriculture, intellectual property rights protection, exchange rate, financial services, expansion of trade cooperation, technology transfer and dispute settlement," state-run Xinhua news agency reported citing Liu He, the country's top negotiator.
But to get there, the two sides need to address issues such as scaling back Chinese government subsidies that have skewed competition, and opening up sectors dominated by state-owned enterprises .
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