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Duff & Phelps Institute Fellow Nicole Y. Lamb-Hale shares her insights on why the recent "Phase One" trade deal between the U.S. and China can't be considered a victory in a Fortune magazine article.
The international markets initially saw the deal as a sign that the trade war was deescalating, however, they realized that the deal did not include several things.
"I find the irony rich that when it's been a [U.S.] bedrock principle for years, for decades, to let the market drive trade, the Chinese are pushing back on [a non-market-based fixed] number," said Nicole, in the Fortune article. "This deal is an emaciated deal – it isn't even skinny."
"If all we get is more soybean purchases, this is a shame," she added. "There's so much work to be done. There's some stability. There is no victory."
Read the full article here.