Yellen Doubts the Effectiveness of the US-China Trade Deal by Trump’s Administration

Yellen Doubts the Effectiveness of the US-China Trade Deal by Trump’s Administration

(SCMP) The US Treasury secretary, Janet Yellen, is concerned that the US-China Trade agreement did not address key trade issues.  

The trade secretary doubts whether the deal signed during the Trump administration solved trade wars entailing tariffs on billions of dollars worth of goods.

Biden’s administration is faced with the decision to keep the deal, replace, or remove it as the two countries continue to pay more in import tariffs.

China Ministry of Commerce spokesperson Geo Feng praised the deal as serving both parties well amidst pessimism of its future in Beijing.

The US-China deal is far from reducing the US trade deficit with the Asian largest economy. 

China is below its purchasing targets agreed by the end of the year. Phase one of the US-China trade agreement was signed in January 2020 during Trump’s administration. 

SPY is down -1.10% on pre-market, CSI 300 is up +0.37%, USDCNY is up +0.10%

Our Experts


Daniel Michelson

Daniel is a long term investor and position trader in the forex market.

Reva Green

Reva Green is the Senior Editor for website. An experienced media professional, Reva has close to a decade of editorial experience with a background.

Shandor Brenner

Shandor Brenner, an experienced writer at fxaudit.com, brings a wealth of knowledge with over 20 years in the investment field.

Leave a Reply

CAPTCHA ImageChange Image