U.S.-China Deal 'Increasingly Unlikely' in Short Run: PIIE's Lovely

The video discusses the challenges in reaching a trade deal with China due to existing tariffs. It highlights the impact of these tariffs on American consumers and businesses, with increased prices on imports like footwear and apparel. The potential escalation of tensions is noted, with China signaling its ability to retaliate. The original goals of increasing market access and improving intellectual property treatment are contrasted with the current situation, which includes higher taxes and potential changes in tech company operations. The need for calm and rational discussions is emphasized.

What is a major obstacle to reaching a trade deal between the U.S. and China?

• The U.S. increasing its import quotas

• Both countries agreeing on a new currency exchange rate

• China increasing tariffs on U.S. goods

• The U.S. lifting all tariffs on China

How are tariffs affecting American consumers according to recent studies?

• They are reducing the cost of imported goods

• They are increasing the availability of goods

• They are leading to higher prices for goods

• They are having no impact on prices

Which types of goods are most affected by the new tariffs?

• Footwear, apparel, and home goods

• Electronics and gadgets

• Luxury items

• Automobiles and machinery

What is China's response to the ongoing trade tensions?

• Increasing its exports to the U.S.

• Reducing its reliance on rare earths

• Preparing to deliver countermeasures

• Seeking a new trade agreement with Europe

What was the original goal of the U.S. in engaging with China on trade?

• To increase tariffs on Chinese goods

• To establish a new currency exchange rate

• To reduce the U.S. trade deficit

• To increase market access for U.S. exporters