China And U.S. Put Trade War 'On Hold'
After negotiations in Washington this past weekend, the world's two largest economies paused on threats of tariffs. China committed to purchasing more U.S. exports in efforts to bridge the $335 billion annual trade advantage it holds over the U.S.
Details conflict about the agreement: Larry Kudlow, President Trump’s director of the National Economic Council, said China had agreed to $200 billion more in purchases. The Chinese Foreign Ministry denies that dollar amount, calling the reports “a misunderstanding.” U.S. Treasury Secretary, Steven Mnuchin, said over the weekend prospects of a trade war were "on hold."
To discuss, we're joined by Phil Levy, senior fellow on the global economy at the Chicago Council on Global Affairs.