Business & Markets

Breaking Down the US–China Trade Deal

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Breaking Down the US–China Trade Deal
U.S. President Donald Trump holds a chart next to U.S. Secretary of Commerce Howard Lutnick as Trump delivers remarks on tariffs in the Rose Garden at the White House on April 2, 2025. Carlos Barria/Reuters
Christopher Balding
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Commentary

The Chinese Communist Party and the Trump administration sounded triumphant in announcing a trade deal. Both sides returned to their capitals, touting what they had achieved. Realistically, it was less of a trade agreement and more of a cease-fire or a cessation of hostilities.

Christopher Balding
Christopher Balding
Author
Christopher Balding was a professor at the Fulbright University Vietnam and the HSBC Business School of Peking University Graduate School. He specializes in the Chinese economy, financial markets, and technology. A senior fellow at the Henry Jackson Society, he lived in China and Vietnam for more than a decade before relocating to the United States.