Using trade deals with Canada, Mexico and South Korea as leverage, Washington looks set to sharpen its hard line trade policy against China and what it deems unfair trade practices from Beijing, strategists told CNBC.
Though some experts have said a tariff-impacted slowdown in Chinese economic activity may make Beijing more willing to agree to a deal, many still maintain China won’t back down and will respond to further U.S. escalation by raising regulatory obstacles to U.S. businesses operating in the mainland.
The United States and Canada reached a last-minute deal on Sunday to replace the North American Free Trade Agreement with the newly named United States-Mexico-Canada Agreement, preserving a $1.2 trillion trade zone that was on the brink of collapse after nearly a quarter century.
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