Ahead of the signing of a phase one trade deal between the United States and China, former White House adviser Steve Bannon said U.S. President Donald Trump’s tariff strategy has handed him a huge win in the ongoing trade war.
Bannon, in an interview on CNBC, said that Trump “stood up for the tariffs and he broke the Chinese Communist Party.” Bannon, who used to run the far-right news outlet Breitbart News, has long been a critic of China.
“It’s only phase one, but directionally this thing is powerful,” Bannon said.
The deal tries to tackle some of the biggest issues Washington has with Chinese practices including intellectual property theft and forced technology transfers. It also calls for China to increase it’s purchase of U.S. goods, including $40 billion in farm goods, to $200 billion over two years, which was a major priority for Trump.
The U.S. also dropped plans of new tariffs…