Editorial: La Vanguardia

• The United States and China have signed a three-month truce to their trade war, with a reduction in tariffs.
• The previous commercial blockade was unsustainable for both economies and threatened to cause a global recession.
• The United States greatly depends on China for importation of consumer items, industrial supplies, and raw materials.
• President Trump has been compelled to reduce tariffs on Chinese imports from 145% to 30%, and China has reduced its tariffs from 125% to 10%.
• Negotiations for a more comprehensive agreement between the two powers are ongoing.
• The perception is that the result of this is a defeat for Trump’s policy, but that could change over time.
• China takes on significant risk of recession by stepping back from its key market.
• The major goal now is to achieve a balanced agreement that includes additional steps such as the removal of Beijing's non-tariff trade barriers.

Conclusion: This situation shows that the two major economies are complementary and need mutual agreement. The relationships remain tense, awaiting resolution.

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