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January 13, 2020 | Reuters
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Phase 1 Trade Deal Does Not End Trade War: US Chamber

Depth of Phase 1 more positive than initially thought, but "significant challenges" remain

The Phase 1 trade deal to be signed this week by China and the United States “stops the bleeding” but does not end the trade war, a senior U.S. Chamber of Commerce official said on Monday, warning that significant challenges remain.

According to a report at Reuters, Myron Brilliant, the chamber’s executive vice president, told a media briefings in the Chinese capital that there is “clearly a sigh of relief from both sides” with the agreement, expected to be signed on Wednesday in Washington, and that the depth of the Phase 1 was more positive than initially thought.

Brilliant says there were “still significant challenges” given that core structural issues at the heart of the bilateral dispute remain largely unresolved. There was still much unfinished work to do on tariffs still in place.

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