Limited US-China “deal” suggests ambitions are low

A deal with China is done, according to President Trump, but its scope seems to be limited to easing some recent non-tariff restrictions, including China’s rare earth export controls. The wider trade and economic issues that were supposed to be the focus of negotiations after the Geneva talks have not been addressed. On the plus side, the two sides are still talking and sound positive. But tariffs remain high and policies on both sides are creating pressure for the two economies to decouple.