Larry Summers Thinks Trade War Will Last Past March Deadline
The U.S. and China are unlikely to negotiate an agreement that could end the trade war by their March deadline, former U.S. Treasury Secretary Lawrence Summers said on Tuesday, warning that the possibility of the U.S. slipping into a recession in the next two years would put even more strain on the relationship.
Earlier in December, U.S. President Trump agreed to delay a scheduled Jan. 1 hike in tariffs on $200 billion of Chinese imports from 10% to 25% until March 1, giving the two countries more time to negotiate on controversial issues like non-tariff barriers, cyber theft, and forced technology transfers.
- 1In Depth: China’s Exporters Find 1.4 Billion Domestic Consumers Are a Tough Sell
- 2China Pushes Local Governments to Borrow $220 Billion by Oct. 31
- 3China’s Top Leaders Lay Out Economic Agenda as Focus Shifts From Pandemic Support
- 4In Depth: Behind the Bet on China’s Pricey, Technologically Lagging Chipmakers
- 5Exclusive: Ant Group Aims to Raise $30 Billion in Record-Shattering IPO
- 1Power To The People: Pintec Serves A Booming Consumer Class
- 2Largest hotel group in Europe accepts UnionPay
- 3UnionPay mobile QuickPass debuts in Hong Kong
- 4UnionPay International launches premium catering privilege U Dining Collection
- 5UnionPay International’s U Plan has covered over 1600 stores overseas