Former U.S. Secretary of Commerce Wilbur Ross: "U.S.-China Trade Deal is Incomplete"
Summary
- Former U.S. Secretary of Commerce Wilbur Ross stated that the recent U.S.-China trade agreement is incomplete and that key issues were omitted.
- Ross mentioned that investors find it difficult to adapt to uncertainty, and said that early resolution is important in the current market conditions.
- He emphasized that a tariff agreement before July is necessary for the direction of both the bond and stock markets.
Former U.S. Secretary of Commerce Wilbur Ross recently described the newly announced U.S.-China trade agreement as an "incomplete deal that misses key issues."
According to Cryptopolitan, a media outlet specializing in virtual assets (cryptocurrency), on the 12th (local time), Ross said regarding the recent U.S.-China deal, "This agreement is an unfinished result that failed to include the issue of intellectual property rights," adding that "President Trump's statement that it is ‘done’ is exaggerated."
He stated, "This agreement merely reiterates the existing framework signed a few weeks ago, and many issues still remain." He also added, "It is harder for investors to adapt to uncertainty than to good news."
Meanwhile, Ross emphasized that the United States should conclude tariff agreements with its key trade partners before July. He argued, "Early resolution is needed for the direction of both the current bond and stock markets," and stated, "Supplementary measures, such as tax cuts, should have preceded tariff imposition."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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