U.S., China Cease-Fire on Tariffs Only Kicks the Can Down the Road
President Trump lauded his meeting with Chinese President Xi Jinping at the G20 summit in Buenos Aires as "extraordinary" after the two sides agreed to a pause in tariff increases for 90 days. But Hagar Chemali, CEO of Greenwich Media Strategies, said investors shouldn't start the ticker tape parade just yet.
Make no mistake, a temporary cease-fire in what was becoming a full-fledged trade war gives both sides time to cool off and re-assess, said Chemali. "At least both nations agree that they don't want to go down this path of economic cold war."
But the agreement was "not very substantive" and did not get to the root of the issues that led to tariffs, according to Chemali.
Trump holds most of the leverage going into the 90-day cool-off period, since the U.S. was prepared to increase tariffs on $200 billion worth of goods up to 25 percent after the first of the year. But Chemali said that without the united front of our allies' support, it may be harder for China to back down, especially on unresolved issues relating to the country's theft of American intellectual property.
In 90 days, don't be surprised to hear about another 90-day extension, she said.
For full interview [click here](https://cheddar.com/videos/trump-leaves-g20-with-trade-truce).
By the time the 2024 election is over, be prepared to see some form of a recession – but this shouldn’t be as bad as what we experienced in 2020 or 2008.
International Master Alice Lee defeated grandmaster Irina Krush to win the American Cup – becoming one of the best women players in the world in the process – but she’s not stopping there.
You can track your sleep habits or heart rate, but how about your brain? Neurable's MW75-Neuro headphones turn your focus and productivity into data you can use to avoid burnout – here's how they do it.
Whether it’s a deepfake video of actor Tom Cruise discovering gum in a lollipop or President Joe Biden discouraging people from voting via telephone, you’ve likely come across a deepfake video, photo or audio recording.
Tensions in the South China Sea, Apple moving to India, and banning TikTok? The podcast ‘Face Off: The U.S. Versus China’ helps explain how we got here.
Cust2Mate is a leading innovator in retail technology, aiming to revolutionize the shopping experience. By implementing smart cart technology, the tech company addresses the issue of theft while enhancing the shopper's journey.
The Biden administration has unveiled a plan, Plan B, to address the student loan debt crisis. It offers to cancel up to $20,000 in interest for borrowers enrolled in income-driven repayment plans. This proposal aims to reset balances for those facing growing debt due to unpaid interest, benefiting low—and middle-income borrowers. An estimated 25 million borrowers are eligible for some form of interest forgiveness.
