U.S. President Donald Trump shakes hands with Chinese Vice Premier Liu He before signing the first phase of a U.S.-China trade deal. | Mark Wilson/Getty Images But Mr. Trump has already sounded the deadline for a new deal after the November election, and there is deep skepticism that the two countries will reach an agreement in the near future. Chilean Deputy Trade Minister Rodrigo Yanez told CNBC: “It is very important for Chile that a trade agreement between the United States and China is soon to be signed.” [338] At the 45th G7, British Prime Minister Boris Johnson said: “We don`t like tariffs as a whole.” [336] An ABC article reported that U.S. allies warned Trump of his trade war with China during the summit, but that Trump said he was not under pressure from his allies because of the trade war. [336] European Council President Donald Tusk has said that the trade war could be a global recession. [337] Analysts have speculated that the trade war could influence the 2020 U.S. presidential election, as tariffs have had a negative impact on farmers, a major district for Trump. [241] [242] Analysts have also speculated about the impact of the trade war on Xi Jinping with regard to the internal political pressures to which he was subjected. [242] President Trump`s long-awaited trade agreement with China involves significant changes in economic relations between the world`s largest economies. The trade war indirectly led to the bankruptcy of some companies. One of them, Taiwanese LCD panel manufacturer Chunghwa Picture Tubes (CPT), went bankrupt following an oversupply of panels and then a fall in prices, supported by vulnerability to trade war (caused by over-expansion in China), a slowing Taiwanese and global economy and a slowdown in the electronics sector.

[253] [256] WASHINGTON – President Trump signed a first trade agreement with China on Wednesday, ending the first chapter of a long and economically damaging struggle with one of the world`s largest economies. Chinese politicians and continental economists are divided over the trade war. [258] [259] [260] In an August 2019 NPR article, while some leaders of the People`s Republic of China argued for a quick solution to the trade war to save China`s economy, others said the country should retaliate against the United States and avoid an agreement at all costs. [257] The agreement contains some victories for President Trump, but implementation and implementation of the agreement could be difficult.