Understanding the US-China Trade Deal

What is the main difference between the US and China's perspective on the trade deal?

• The US sees it as a promise to keep talking, while China sees it as a trade deal.

• The US views it as a trade deal, while China sees it as a promise to keep talking.

• Both countries see it as a legally binding agreement.

• Both countries see it as a consultation mechanism.

Who announced the US-China trade deal on behalf of the US?

• The UK Prime Minister

• President Trump

• US Trade Representative Jameson Greer and Treasury Secretary Scott Bessant

• Chinese Vice Premier Ha Lefang

What is a consultation mechanism as described by China?

• A finalized trade deal

• A regular check-in to keep communication open

• A rollback of tariffs

• A legally binding agreement

What was the impact of the 145% tariff imposed by President Trump on Chinese imports?

• It had no significant impact on the economy.

• It increased trade between the US and China.

• It led to a decrease in smartphone prices.

• It froze nearly $600 billion in trade between the two countries.

What was China's response to the US tariffs?

• China reduced tariffs on US imports.

• China imposed a 125% tariff on US imports.

• China did not respond to the US tariffs.

• China increased trade with the US.

Why are trade experts urging caution regarding the US-China trade deal?

• Because the deal is legally binding.

• Because there are no concrete changes yet.

• Because the deal has been finalized.

• Because tariffs have been rolled back.

How might businesses react to the uncertainty in US-China trade relations?

• They might increase investments immediately.

• They might delay hiring and pass costs to consumers.

• They might stop trading with China altogether.

• They might reduce prices for consumers.

What is the key takeaway regarding the current US-China trade deal?

• It provides new access for US companies in Chinese markets.

• It is a significant economic shift.

• It guarantees a rollback of tariffs.

• It is more of a political signal than an economic shift.

Why is it important to look beyond headlines when it comes to trade deals?

• Because trade deals have no impact on prices or jobs.

• Because the real impact on the economy and individuals is often more complex.

• Because trade deals only affect big corporations.

• Because headlines always provide detailed information.

What can be a potential benefit of restarting dialogue between the US and China?

• It guarantees immediate economic growth.

• It reduces uncertainty and can bring some relief to businesses.

• It leads to an increase in tariffs.

• It stops all trade between the two countries.