US-China agreement 'surprising, disappointing,' only addresses some security concerns, KU trade expert says
LAWRENCE — The United States and China announced they would sign an initial trade deal today, easing a two-year economic fight between the world’s two largest economies. Terms of the deal are said to include an opening of Chinese markets to more American firms, increase farm exports and provide further protection to U.S. technology. The deal will not completely end the trade war, as about $360 billion in tariffs will remain in place and the threat of further tariffs remains if China does not meet terms of the agreement.
Raj Bhala, Brenneisen Distinguished Professor at the University of Kansas School of Law and an international trade law expert, is available to discuss the updated deal with media. He can discuss terms of the new deal, what it means for both countries and their respective economies, effects it will have on trade, the ongoing trade war, remaining tariffs, unresolved trade issues, enforcement of the agreement, future phases of trade agreements between the two nations and related topics.
“This Phase One agreement is both surprising and disappointing,” Bhala said. “It’s a partial managed trade agreement that might be enforceable, with only some terms related to the U.S. national security concerns that drive the Sino-American conflict. It should be read alongside yesterday’s joint U.S.-Japan-EU statement on subsidies on state-dominated capitalism.”
The Trump administration has said it will push a second phase of the agreement past the November presidential election. Bhala can also address accusations that China has devalued its currency, the renminbi, and language in the agreement to stop that practice. He has worked in China and has a global reputation in the scholarship of international trade law. He lectures around the world and is the author of dozens of books and journal articles, including the acclaimed four-volume “International Trade Law: A Comprehensive Textbook,” now in its fifth edition; the two-volume treatise “Modern GATT Law” and “TPP Objectively: Legal, Economic, and National Security Dimensions of CPTPP” Second Edition. He practiced international banking law at the Federal Reserve Bank of New York before entering academia and currently serves as senior adviser to Dentons in Kansas City. Bhala has worked in more than 25 countries, including throughout the European Union, Argentina, Turkey, Australia, England, Israel, Malaysia, New Zealand, Singapore and throughout India.
To schedule an interview, contact Mike Krings at 785-864-8860 or mkrings@ku.edu.