Temporary trade truce

US and China have a long way to go

Two of the world largest economies have arrived at what can only be called a temporary truce in their ongoing trade war. The US and China signed phase one trade agreement on Wednesday under which the latter has agreed to import additional goods and services worth $200 billion by 2021. Accordingly, China will import more agricultural commodities, energy items, manufactured goods, and services from the US. The deal also seeks to stop the forced transfer of technology by US companies to Chinese firms. China is also expected to protect intellectual property and address the issue of counterfeiting. Expectedly, US President