Far from applauding the signing of the first phase of the trade agreement between China and the United States on Wednesday 15 January in Washington, experts and observers are concerned about the impact of this treaty, whose content has not been fully revealed.
First, because this agreement marks the emergence of “managed trade”, in violation of the rules of fair treatment for all countries, advocated by the World Trade Organization (WTO). Its rules also require that any bilateral trade agreement reduce tariffs on substantially all trade. It is probably not even close…
Additionally, the agreement brings risks for the EU: first because it may change trade relations between China and the European Union, to the latter’s detriment; second, as one European diplomat pointed out, because on the eve of the presidential elections in the United States, President Donald Trump could now concentrate his trade ambitions on the Old Continent, with which his trade balance remains in deficit.
The mission to Washington by EU Trade Commissioner Phil Hogan is all the more crucial in this context, and its outcome will provide valuable lessons about the future of transatlantic trade relations (see EUROPE 12402/5).
Mr Hogan continued his meetings and spoke the same day with elected members of the U.S. Senate and House of Representatives. (Original version in French by Hermine Donceel)