The agreement reached at the G20 Summit by President Donald Trump and China’s President is nothing more than a truce leading to the possibility for more negotiations over the trade war. That’s according to Michael Stumo, CEO of the Coalition for a Prosperous America. He doubts China will satisfactorily answer U.S. demands that led to the placing of tariffs on their products.
He says in the deal that led to the Truce, China promised to purchase more U.S. ag products. Stumo says if that includes soybeans that would be very positive.
Stumo says the trade imbalance between the U.S. and China must be addressed in order to come to any positive conclusion to the tariff battle.
Stumo says the U.S. dollars remains extremely overvalued which makes U.S. products on the global market more expensive than those from other countries.
