Global Times: China-U.S. Trade Agreement "Followed the Win-Win Principle"

May 21, 2018

Sunday's Global Times carries an editorial which is very positive on the U.S.-China trade agreement, as the headline indicates: "China, U.S. Reach Win-Win Victory with Trade War Truce." According to the editorial, the joint statement says the two countries will substantially reduce the trade deficit, including by "expanding trade in manufactured goods and services." They report that "both nations fought fiercely for their own country's interests. In the past two and a half months, the situation was close to reaching disastrous conditions. Even until the very last moment before the final agreement was made, both countries did not give up." And there will be tough sledding ahead: "Now both nations need to figure out how to achieve this balance."

Overall, "this agreement signed by China and the U.S. today has followed the win-win principle. The U.S. will have the opportunity to reduce its trade deficit with China, while China will achieve the consistent purchase of U.S. goods to benefit the devleopment of the country and its people's life."

Predictably, the anti-China lobby in the U.S., including top Democrats, is not pleased. For example, Senate Minority Leader Chuck Schumer attacked the agreement, saying that it fell short on protecting U.S. intellectual property rights and on opening China up to certain U.S. exports. "The joint statement has nothing specific on those fronts."