The trade deal inked by Washington and Beijing is likely to hold for now, according to former top White House trade negotiator Clete Willems.
Willems' comments came White House advisor Peter Navarro stoked confusion about the status of the U.S.-China trade deal, which briefly sent investors reeling.President Donald Trump and China's President Xi Jinping shake hands at a press conference following their meeting at the Great Hall of the People in Beijing.
that Navarro — widely known as a China hawk — had blamed the breakdown of the trade deal on China not warning about the coronavirus outbreak earlier.Following the debacle, Willems said there are "two lessons" that investors can learn from this. "Something this significant like pulling out of ... phase one deal, you know, that's gonna come from the president himself," said Willems, who is now a partner at law firm Akin Gump.Looking forward, Willems said the second lesson is that there needs to be more focus around "decoupling" of the world's two largest economies. He explained that's a "big concern" and that "there's a broader trend that I think folks need to be worried about.
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