Mr Drayson added: “The majority of the existing tariffs remain in place, with no timetable for their removal. The deal lacks a credible enforcement mechanism. Finally, progress on the key structural issues remain extremely limited.
“The signing of the ‘Phase One’ trade deal marks the widely anticipated ceasefire in Trump’s trade war with China. While this could hold through to November, it probably marks the peak in improving news on the US and China relationship.”