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US-China Trade Tensions Persist Despite Tariff Truce

5/26/2025

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Summary

Story summary

Wendy Cutler, vice-president of the Asia Society Policy Institute, sheds light on the fragile US-China trade relationship, even after a recent tariff truce. While tariffs have eased, significant hurdles persist for the US. China aims to lure American investments, all while the US grapples with backlash over new tariffs on European goods.

History

Historical Context

The US-China trade relationship has roots in the late 20th century, particularly after China's WTO accession in 2001, which aimed to integrate it into the global economy. However, ongoing issues like intellectual property theft and trade imbalances have fueled tensions. Historical tariff policies, such as the Smoot-Hawley Act of 1930, echo today's challenges, highlighting a persistent cycle of protectionism and economic rivalry.

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Story summary

Wendy Cutler, vice-president of the Asia Society Policy Institute, sheds light on the fragile US-China trade relationship, even after a recent tariff truce. While tariffs have eased, significant hurdles persist for the US. China aims to lure American investments, all while the US grapples with backlash over new tariffs on European goods.

1 / 2