After a year of tit-for-tat tariff increases, a glimmer of hope has emerged in the U.S.-China trade dispute since October 2019. Both countries agreed on a “Phase 1 deal“: China will buy more U.S. products and in return, the United States will not increase tariffs. However, most of the tariffs remain in force. Moreover, the major structural issues are still unresolved. This means that the uncertainty in world trade remains.