On September 24, President Trump and Chinese leader Xi met at the White House to discuss bilateral trade and other points of contention put on hold since the trade war truce established last year. In new research, Director of Trade Policy Jacob Jensen reviews the limited achievements of the meeting and explains what may come next.

Key points:

• Trump and Xi agreed to extend the truce – which had been set to expire in November – until January 10, or for just two additional months; previously, the administration had floated a 3-to-6-month extension.
• The most important achievement of the summit was the “30-for-30” framework administered by the U.S.-China Board of Trade as it proposes tariff reductions on $30 billion worth of each country’s imports.
• Tariff reductions are unlikely to reach the 30-for-30 target and will not be fully reciprocal, with import data indicating a larger impact on U.S. imports from China than vice versa.

Read the analysis.