In September 2019, Matthew Shay, President and CEO of the National Retail Federation, said the trade war had “taken far too long” and had had a negative impact on U.S. businesses and consumers. He called on the Trump administration to end the trade war and reach an agreement to remove all tariffs. [246] Chinese head of state and party Xi Jinping said in a message to Trump that the agreement was “beneficial to China, the United States and the world.” Xi also said the agreement shows that both countries can find appropriate and effective solutions to problems “on the basis of equality and mutual respect through dialogue and consultation.” The trade war indirectly led to the bankruptcy of some companies. One of them, Taiwanese LCD panel manufacturer Chunghwa Picture Tubes (CPT), went bankrupt following an oversupply of panels and then a fall in prices, supported by vulnerability to trade war (caused by over-expansion in China), a slowing Taiwanese and global economy and a slowdown in the electronics sector. [253] [256] The agreement limits more than two years of tense negotiations and increasingly intense threats that sometimes seemed to plunge the United States and China into a permanent economic war. Mr. Trump, who was running for president in 2016 promising to be tough on China, urged his negotiators to rewrite trade conditions that his party said would have destroyed U.S. industry and jobs, and he imposed record tariffs on Chinese goods to ensure Beijing complied with its demands. In July 2018, academic Xu Zhangrun said the trade war exposed the underlying weaknesses of China`s political system and criticized Chinese President Xi Jinping for his “excessive pride” and “vanity policy.” [259] [260] In accordance with the agreement, all products exported from China to New Zealand will be duty-free from 1 January 2016, while tariffs on most New Zealand exports to China will be abolished from 1 January 2019. China and New Zealand formally began free trade negotiations in December 2004 and concluded negotiations in December 2007 after 15 rounds of negotiations. But these victories are highly priced.

Uncertainty created by Trump`s customs threats and trade approaches has weighed on the economy, raised business and consumer prices, delayed business investment and slowed growth around the world. Companies with China`s commitment such as Deere-Company and Caterpillar have laid off some workers and reduced revenue expectations, in part by referring to the trade war. In 2002, when CAFTA had just been established, the volume of bilateral trade was $54.8 billion. In 2014, the volume of bilateral trade increased to $480.4 billion, and increased ninefold in 12 years, with annual growth of 20%. On August 14, 2019, the Dow fell 800 points, in part due to rising trade tensions between the United States.