The meeting between the US and the Chinese Presidents proved to be more fruitful in comparison to what was expected during the presidential campaign in the US. Both the countries have approved to improve trade relation between themselves as a part of trade talks which begun recently. The primary results of this high profile meeting were the expand of trade in beef and chicken in between these countries and more importantly increasing the access for American financial firms in China. The process is expected to get started as early as the middle of July as per sources with the hope of bringing down the deficit faced by the US in relation to trade with China.

The trade deficit USA has faced last year amounts up to $347 billion when it comes to trading with China as per the treasury figures of the US. To pacify this, China has agreed to issue guidelines by 16 th July, 2017 which would be the 100 th day of the meeting that they would allow the card payment services owned by the US to begin the licensing process in the market where the Chinese UnionPay system had been enjoying monopoly this far. China will also allow the US beef to be imported within the specified deadline, i.e. again 16 th July, 2017. In response, USA will issue a proposed rule which would allow the Chinese cooked poultry to enter and do business in the US market.

In spite of the fact that there was a situation of a trade war arising in between the countries in the recent past, the positive outcome of the meeting has, for now, pacified any chances of the trade war and definitely has shown intents of a happy ending. But the modern day critics has not been comfortable with the outcome of this meeting. They have come up with their share of criticism. In spite of the fact that we are speaking about two of the largest economy of the world, some are not quite sure how successful this deal is going to be. For now they want to term it as a good beginning rather than a breakthrough.

Others have come up with the point that none must celebrate victory before all the aforementioned promises are executed when it comes to the deal regarding the financial firms of America. In case of the other deals, they are of the opinion that it would have little impact in the current business world as the most of the local business markets are self-sufficient. For example they have cited the fact that China had conditionally raised the ban on American Beef as early as last year but very few purchases were made. They think that it would have made a big impact if it had been struck earlier.

The credit card operators are quite happy with the deal on the contrary. They are looking forward to expanding their business beyond a new horizon. But for most of the critics, it is too early to celebrate victory. It is a deal well struck, but only time will tell whether it would be a successful one or not.