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PanellistsAntonio Bonet, President of Club de ExportadoresFrank Samolis, Co-chair of the International Trade Practice Squire Patton boggsModerator: Carlos Espósito, Professor of Public International Law at the Autonomous University of Madrid (UAM). Member of Fide's Academic Council.ObjectivesThe two great world powers, the US and China, have been engaged in a long trade war since the US decided in March 2018 to impose $50 billion worth of tariffs on Chinese products, according to White House statements, for the theft of their trade secrets, including software, patents and other technologies. Following this first offensive by the Western bloc, China countered in a matter of hours by imposing tariffs on more than 100 products imported from the US. This was only the beginning of what was to come.This lengthy trade war has had negative economic effects for both blocs. China, the hardest hit, has cut its exports to the US by 25%, causing total losses of $35 billion in exports to the US. The rejection of Chinese products has led to a diversification of US foreign trade towards other economies. Thus, Taiwan, Mexico and the EU, among others, have seen their trade balance increase at the expense of the Asian giant. However, we should not forget that the US has also been a victim of its own trade war, especially its citizens, who have suffered from the increase in prices of many products.After almost two years of a trade war driven by economic protectionism, it seems that this war could come to an end. Thus, the United States and China announced in December the conclusion of "phase one" of a pact to end the trade war that would avoid billions of dollars in tariffs. However, it is well known that this is not the first time that both countries have stopped their offensives in order to reach a trade agreement.Are we really facing the end of this trade war or rather a new attempt doomed to failure? Has Trump's trade policy really proved effective?