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President Trump and Chinese officials resumed their trade talks with both eager to compromise after the 90-day truce declared last December.
While the talks among mid-level US and Chinese representative were taking place, there was a surprise appearance of Liu He, China’s vice premier and economic czar, who unexpectedly attended the talks.
After failing to reach an agreement last December, the two sides are agreed to suspend new tariffs. “I think China wants to get it resolved. Their economy’s not doing well. I think that gives them a great incentive to negotiate,” Trump said.
The US delegation, led by Jeffrey Gerrish, Deputy US Trade Representative, includes officials from the Treasury, energy and agriculture departments, as well as the State Department and the White House but does not include any top US officials from the administration.
According to a professor at Renmin University of Beijing, Shi Yinhong, ”The situation now is that both sides are facing some economic problems. China is facing export pressures and likely an economic turn down. The US is facing a falling stock market. Thus, both sides are willing to talk and are expecting a deal. I think it’s possible to reach a deal before March, if both sides talk and move fast,” he added.
Some analysts believe that China’s leaders are under pressure and may now be more willing to resolve the trade war to avoid an increase in tariffs The trade war cease-fire ends on March 1.
“The big issue is not just that an agreement is reached, but verifiability that China is living up to their end of bargain,” said Christophere Balding, a former associate professor at HSBC Business School in Shenzhen.
While the talks among mid-level US and Chinese representative were taking place, there was a surprise appearance of Liu He, China’s vice premier and economic czar, who unexpectedly attended the talks.
After failing to reach an agreement last December, the two sides are agreed to suspend new tariffs. “I think China wants to get it resolved. Their economy’s not doing well. I think that gives them a great incentive to negotiate,” Trump said.
The US delegation, led by Jeffrey Gerrish, Deputy US Trade Representative, includes officials from the Treasury, energy and agriculture departments, as well as the State Department and the White House but does not include any top US officials from the administration.
According to a professor at Renmin University of Beijing, Shi Yinhong, ”The situation now is that both sides are facing some economic problems. China is facing export pressures and likely an economic turn down. The US is facing a falling stock market. Thus, both sides are willing to talk and are expecting a deal. I think it’s possible to reach a deal before March, if both sides talk and move fast,” he added.
Some analysts believe that China’s leaders are under pressure and may now be more willing to resolve the trade war to avoid an increase in tariffs The trade war cease-fire ends on March 1.
“The big issue is not just that an agreement is reached, but verifiability that China is living up to their end of bargain,” said Christophere Balding, a former associate professor at HSBC Business School in Shenzhen.
