Phase 1 trade deal stops bleeding, doesn’t end U.S.-China dispute: U.S. Chamber

BEIJING (Reuters) – The Phase 1 trade deal to be signed this week by China and the United States “stops the bleeding” but does not end the trade war, a senior U.S. Chamber of Commerce official said on Monday, warning that significant challenges remain.

Myron Brilliant, the chamber’s Executive Vice President, told a media briefings in the Chinese capital that there is “clearly a sigh of relief from both sides” with the agreement, expected to be signed on Wednesday in Washington, and that the depth of the Phase 1 was more positive than initially thought.

“Implementation of Phase 1 will be important to building trust and certainty, building off the success of the negotiation,” said Brilliant, who said he had been briefed on the text of the accord but not seen it. Continue reading.