Excerpt from the Article
President Trump’s approval of a “phase one” trade pact with China on Wednesday, a step back from a trade war that has lasted nearly two years, was met with cautious optimism in the United States.
Many European economists view the pact as “blatantly discriminatory,” a weakening of the “multilateral trade order” and “harmful for Europe,” said Gabriel Felbermayr, president of the Kiel Institute for the World Economy in Germany. Under the deal, China has agreed to buy about $200 billion more in U.S. goods over the next two years, which may put the European Union at a disadvantage, according to researchers. (...)