Clete Willems Quoted in Media on “Phase One” Trade Agreement Between US and China
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Akin Gump public law and policy partner Clete Willems has been quoted by the national media regarding the truce in the trade war between the United States and China.
The Barron’s article “There’s a Trade Deal With China. Here’s Why the Stock Market Isn’t Thrilled” reports that, despite Washington and Beijing having reached a “phase one” trade agreement, its details remain scarce. Willems, though, said the pact reduces tensions for now between the two sides.
“The U.S. got important structural victories in a range of sectors in addition to the commodity purchases. From a broader standpoint, it’s critical the United States and China find ways to work together so they can avoid rushing headlong into an adversarial posture in all aspects of the relationship.”
Willems echoed those comments in The Wall Street Journal article “U.S., China Agree to Limited Deal to Halt Trade War,” which reports that the agreement calls for Beijing to purchase more products from American farmers and other exports. In return, the United States put a halt to new tariffs that were set to take effect on Sunday and agreed to reduce some existing levies.
“This doesn’t solve all of our problems,” Willems said, “But it is very important for the U.S. and China to be able to say ‘yes’ to each other on some things.”
A separate Wall Street Journal article, “Trump’s ‘America First’ Trade Vision Comes Into Focus on Three Fronts,” notes that President Trump achieved several victories last week in his effort to reshape U.S. trade policy. In addition to the deal with China, he won approval from congressional Democrats and organized labor for the new U.S.-Mexico-Canada trade agreement and he was able to dismantle the World Trade Organization’s Appellate Body, which he had been pushing for.
“This was the week,” Willems said, “where the first three years of Trump administration trade policy all came together.”
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