My understanding is that the text of the agreement has been withheld by both sides. Which is…odd.
Both sides also still need to sign the text of an agreement, which Chinese officials said requires legal review and translation. Lighthizer said both countries hope to sign the deal in Washington in early January, and there would be no new tariffs as long as China negotiates in good faith.
Scott Kennedy, senior advisor and trustee chair in Chinese business and economics at the Center for Strategic and International Studies, pointed out Friday in an online article that this marks the “fifth instance during the U.S.-China trade dispute that a deal has been prematurely declared.”
“With only limited concessions, China has been able to preserve its mercantilist economic system and continue its discriminatory industrial policies at the expense of China’s trading partners and the global economy,” he said. “Trump could reverse course and renew tariffs, but Beijing has bought itself a likely respite from the daily uncertainty for at least a few months and perhaps for the remainder of Trump’s current term.”