Trump, Lighthizer Clash in Front of Reporters Over Meaning of MOUs

The video discusses the differences between Memorandums of Understanding (MOUs) and contracts, highlighting that MOUs are often perceived as less binding than contracts. The speaker expresses a preference for moving directly to trade agreements, which are seen as more meaningful and binding. The discussion includes a debate on the legal standing of MOUs and concludes with a preference for using trade agreements in international dealings, particularly between the United States and China.

How does the speaker describe the nature of a memorandum of understanding?

What is the speaker's opinion on the term 'trade agreement' compared to 'memorandum of understanding'?