The announcement over the weekend by US President Trump that his administration would delay raising tariff on Chinese imports should ease some of the uncertainties hanging over international trade, but is not expected to boost the Chinese economy anytime soon, said UK-based think tank Oxford Economics.
The prevailing weakness in the Chinese economy and trade tension in the US have been cited as among the reasons for the weak Philippine trade data in December 2018.
Trump’s announcement on Sunday followed weeks of talks by the two countries to hammer out an agreement to end the trade war. This delays the planned imposition of additional tariffs on Chinese products beginning March 1.
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