Daily Management Review

US-China Trade Talks Put At Risk Because Trump Threat Tweets Of More Tariffs


05/06/2019




Following a series of tweets threatening new tariffs on China by United States president Donald Trump has apparently put the US-China trade agreement at risk which was not long ago believed to be in its final stages. It has also thrown into question the next round of negotiations to be held in Washington.
 
Trump continued his warnings on Monday even though there was a slide in the Asian equity markets and the US futures following his tweets on Sunday. It is worth mentioning that the top trade negotiators of China is scheduled to come to the US for trade talks in two days – which analysis and experts believe could be the final meetings before announcement of a trade deal between the two parties.
 
"The United States has been losing, for many years, 600 to 800 Billion Dollars a year on Trade. With China we lose 500 Billion Dollars," Trump tweeted on Monday. "Sorry, we're not going to be doing that anymore!"
 
Confirmation of the plans of the Chinese trade negotiators who are scheduled to go to Washington later this week is being awaited by the US, said reports quoting US officials.
 
Plans for holding further negotiations on trade in Washington is going on as scheduled, a Chinese government spokesman said earlier on Monday. However reports quoting a US official claimed that whether those negotiations would be headed by Chinese vice premier and chief trade negotiator Liu He is an uncertainty. Report also questioned whether this round of talks would be the final would get cancelled following Trump's tweets on more tariffs.
 
According to reports in the US more than 100 people were set to accompany the Chinese delegation and many involves in the negotiation process viewed this stage of the talks to be the last before Trump and his Chinese counterpart would meet at a summit meeting to finally announce a trade deal.
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"The President is, I think, issuing a warning here, that, you know, we bent over backwards earlier, we suspended the 25% tariff to 10 and then we've left it there. That may not be forever if the talks don't work out," White House economic adviser Larry Kudlow told Fox News on Sunday.
 
According to multiple reports, China has been reluctant to include its promised changes in its approach to economic practices in the trade agreement as codified in writing despite agreeing to abide them in principle.
 
Reports said that this development was reported to Trump during a briefing from his top trade negotiators last week.
 
A trade agreement would appear weak and politically expedient if those changes were not included in it, trump has been advised by some of his aides, according to reports. Reports also suggested that the long drawn trade negotiation is also making Trump impatient as the initial March 1 deadline for a trade deal has been exceeded by months now.
 
There have been numerous occasions in the past that the US has threatened China with tariffs, said China's Foreign Ministry spokesman Geng Shuang in a regular press briefing, but also touted the positive developments that have been made by the two parties in the trade negotiations.
 
(Source:www.cnn.com)






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