Trump talks up trade deals with China, but experts see no big wins for U.S.
CBS News • • business
Key Points:
- The summit between President Trump and Chinese President Xi Jinping eased economic tensions but did not result in major breakthrough trade deals, with experts noting a lack of detailed commitments from China.
- Boeing emerged as a likely winner, securing an initial commitment from China to purchase at least 200 aircraft, though this fell short of some expectations and led to a drop in Boeing's stock price.
- President Trump announced agreements for China to buy more U.S. oil and agricultural products, including billions of dollars in soybeans, but specifics remain vague and non-binding at this stage.
- The U.S. and China established a "Board of Trade" and "Board of Investment" to manage their economic relationship and potentially mediate trade disputes, signaling a framework aimed at stabilizing ties.
- Experts caution that the verbal commitments lack guarantees and recall past failed agreements, emphasizing that further negotiations will be necessary before any concrete deals are finalized.