Can U.S. and China Reach Phase Two Trade Deal?

The transcript discusses China's trade commitments, highlighting their tendency to honor numerical promises but struggle with vague commitments. It explores the challenges in phase two negotiations, particularly around subsidies and industrial policy. The discussion also touches on US-China relations, with references to a potential Cold War scenario, and the impact of the phase one agreement in slowing tensions.

What is a key reason why China is likely to meet its numerical commitments in trade agreements?

• They are politically motivated.

• They are less controversial.

• They are more profitable.

• They are easy to verify.

Why are the next phase of negotiations expected to be more challenging?

• They involve more countries.

• They focus on unresolved complex issues.

• They require less transparency.

• They are less important.

Which of the following was NOT addressed in the first phase of negotiations?

• Tariffs

• State-owned enterprises

• Industrial policy

• Subsidies

What did Henry Kissinger describe the US-China relationship as?

• A diplomatic success

• The foothills of a Cold War

• A trade partnership

• A peaceful alliance

What impact does the phase one agreement have on US-China relations?

• It slows down the progression towards a Cold War.

• It escalates tensions.

• It has no impact.

• It resolves all trade issues.