Customs Lawyer Doubts ‘Substantive’ US-China Trade Deal Possible by March 2 Deadline
With less than a month before the 10 percent Section 301 tariffs on Chinese imports are scheduled to rise to 25 percent (see 1812140045), resolving the U.S.-China trade dispute “is a tall order, under the best of circumstances,” blogged Baker…
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McKenzie customs lawyer Ted Murphy Monday. “By most accounts, the two sides are still far apart” in their quest to negotiate a comprehensive trade deal by the March 2 deadline, he said. Murphy doubts “a substantive solution will be reached in the next 30 days." The "question is whether China’s offer to purchase more U.S. products” and impose “some small structural changes” in its trade practices will be sufficient to get the Trump administration to “declare victory” and again postpone the tariff hike while the two sides keep talking, he said.