by Mike ‘Mish’ Shedlock
On Wednesday, the US and China will sign a compromise deal that will calm but not end a two-year trade war.
Hooray, we have a deal at last, assuming nothing happens between now and Wednesday. But serious issues linger.
The Wall Street Journal comments on How the U.S. and China Settled on a Trade Deal Neither Wanted.
The accord promises increased purchases of U.S. goods and services, greater access for American firms to China’s banking, insurance and other financial sectors, an end to tariff threats—and a chance to reset relations between the world’s largest economies. The two sides also have agreed to bi-annual meetings to discuss trade and economic issues.