U.S. and China Seen to Be Close to a Deal, Former Treasury Official Says

The video discusses the complexities of US-China trade relations, highlighting skepticism towards the WTO and the need for enforceable agreements. It addresses the challenges of implementing trade promises from China and the use of sanctions and tariffs. The discussion also covers the US's bilateral strategy, the impact of withdrawing from the TPP, and the potential for future volatility in US-China relations. The video concludes with optimism about reaching a comprehensive agreement by 2025.

What is the main reason for the US administration's skepticism towards traditional institutions like the WTO?

• Inability to handle trade disputes

• Lack of enforcement mechanisms

• High membership fees

• Limited global influence

What is a major challenge in implementing trade agreements with China?

• Lack of communication

• Implementation of promises

• Cultural differences

• Currency exchange rates

What enforcement mechanisms are suggested to ensure compliance with trade agreements?

• Diplomatic negotiations

• Economic incentives

• Sanctions and tariffs

• Public shaming

What is a potential benefit of the US rejoining the TPP?

• Reduced trade with Europe

• Improved leverage in negotiations with China

• Higher tariffs on Chinese goods

• Increased military presence in Asia

By what year does the US aim to achieve structural changes in China's trade practices?

• 2023

• 2025

• 2028

• 2030