On October 31, the Veza Public Opinion Center held another meeting with economist Illya Neskhodovsky. The main topic was the outcomes of negotiations between Donald Trump and Xi Jinping and their impact on the global economy and Ukraine.
Neskhodovsky stressed that Ukraine plays a secondary role in these agreements, as the primary focus is on trade relations between the US and China. Despite Trump's promises to reduce tariffs by 10% and China's softening of export controls on rare earth metals, the sides failed to reach any fundamental or decisive agreements.
According to the expert, the current arrangements are more of a political pause in the trade war rather than its end. The deal mainly concerns minor tariff reductions, especially on certain agricultural products, which protects US farmers. China, in turn, may continue seeking alternative markets, such as sourcing soybeans from Brazil.
Reforms concerning protection of intellectual property rights remain a contentious issue, with no definitive commitments achieved. Trump aims to show results to his electorate, but no major breakthrough has occurred in relations.
The situation with TikTok was also discussed: the deal to sell part of the company to American investors remains unresolved. Such issues may become part of broader future agreements between the countries.
Overall, the global trade war between the US and China has essentially been paused for a year, but fundamental contradictions remain. The impact on Ukraine is minimal for now, although global market events may affect the country indirectly.
