U.S. and China make 'initial commitments' on trade
The U.S. and China issued a joint 10-point communiqué Thursday evening announcing "initial commitments" on trade affecting investment, financial services, energy, and agriculture. Commerce Secretary Wilbur Ross briefed reporters on the agreement, which includes an end to China's ban on U.S. beef imports.
The agreement is "underwhelming" and "mostly aspirational," an international trade expert tells Axios — note the language: the U.S. "welcomes China," China "may proceed," the U.S. "recognizes," the U.S. "remains committed," and so on. This leaves a lot of questions as to what weight this agreement will ultimately hold.