The Chinese are eager to resolve the ongoing trade ructions with the US. They’re even willing to make some significant concessions. But US President Donald Trump appears to think the Chinese negotiators are holding back. That he can squeeze more out of them and achieve a more equitable deal for the US.
And he may well be right.
Trump has stated that talks with China will continue, however, the US isn’t quite ready to commit to any agreements regarding trade disputes.
The US and China are the world’s leading economies. And all in all, this back and forth trade war has seen both countries hit each other with tariffs on US$50 billion (AU$70) worth of goods. And Trump is still considering adding another US$200 (AU$279) billion worth of tariffs on Chinese imports.
The trade war continues…
According to RAW, at the White House Trump made this statement regarding the trade dispute:
‘We’ve done very well in negotiations with China but we’re not prepared to make the deal that they’d like to make…
‘We’ll continue to talk to China. I have great respect for [Chinese] President Xi [Jinping]…
‘But right now we just can’t make that deal.’
According to RAW, Washington is demanding that Beijing increase intellectual property and market access defences for US companies. They also want China to lessen industrial subsidies, as well as cut the trade gap of US$375 billion (AU$523 billion).
On the other end, China is calling for more talks between the two nations, while also accusing Washington of ‘hardline tactics’.
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