Payne's Perspective: October 14, 2019: Phase One
It’s not a done deal. However, it’s a big step in the right direction and reflects the epiphany President Trump was bound to realize; the great China trade deal must be done in tranches. On that score, the first tranche is much better than I anticipated, although critics will say it’s underwhelming. Therefore, I resist calling the news from Friday a “trade deal” skinny or otherwise.
The agreement presents a potential major turning point toward a complete comprehensive deal that the naysayers will have to admit is impressive. Truth be told, anything is better than the status quo, which was a rapid move toward China’s global dominance using America’s riches and stolen intellectual prowess.
That said, President Trump pointed out details that need to be resolved and that will take a few weeks. However, the draft was already part of the prior “deal” that China junked in May. There are additional components, including the size of agriculture and currency.
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