US and China in painstaking efforts to conclude trade talks

US President Donald Trump is joined by United States Trade Representative Robert Lighthizer, Secretary of the Treasury Steven Mnuchin, Cabinet members and White House senior advisers, as he meets with Chinese Vice Premier Liu HeThursday, April 4, 2019, in the Oval Office of the White House, following continued U.S.–China trade talks. (Official White House Photo by Shealah Craighead)

China and the United States are working hard to achieve a trade deal, badly needed for both the two largest economies of the globe as well as for the rest of the world. During the past months of negotiations between the two giants, progress or confrontation in the dealings have been strongly – positively or depressingly – influencing all and every market, including stocks and commodities. As a matter of fact, the long and painstaking efforts of Washington and Beijing to come up with a viable deal are proof that the two sides have perfect awareness of how important it is to succeed.

In the latest developments, last Friday, in Washington, the two negotiating teams concluded their latest round of negotiations. Although no final deal was reached, the fact that President Donald Trump termed the meeting as “a success”, is a strong indication that the White House vies for a positive conclusion of the lengthy procedure. By the same token, the US President also said that “a deal could be announced in the next four weeks”.

Encouraging signs

One more encouraging indication is that the two teams agreed to continue working together this week. Chinese media reported that “new progress” was achieved in Washington. The two teams are headed by the highest possible trade authorities. The Chinese Vice Premier Liu He was in the US capital for a three day visit, having successive meetings with U.S. Trade Representative, Robert Lighthizer, and the US Treasury Secretary, Steven Mnuchin.

However, Lighthizer’s office said in a statement “Significant work remains”. It also explained though, “…the principals, deputy ministers, and delegation members will be in continuous contact to resolve outstanding issues”. On top of that, Lighthizer’s statement also informed about the issues the two teams negotiated upon. It clarified “The negotiations included intellectual property, forced technology transfer, non-tariff barriers, agriculture, services, purchases and enforcement”.

Trumpism fades before China

It’s obvious, then, the White House under Trump has understood how deeply rooted the US business and wider economic and otherwise relations are. As it is immensely difficult, if not impossible, for Britain to leave the EU’s customs union and internal market, it is also equally unimaginable for the US to freeze its ties with China.

Like it or not, this is an irrevocably deeply interrelated world. Trump’s rhetoric against the Chinese imports was some kind of easy and soothing tale for some ears, but proved to entail dangerous negative repercussions for a lot of Americans. The damage to the US economy from a trade war with China would have been immeasurable. So, Washington had to back off from its aggressive verbalism.

“No let-up here”

The decisiveness with which the two sides conducted the negotiations was revealed by what the high ranking White House advisor, Larry Kudlow, had to say. He stressed “There’s no let-up here, this is an ongoing process”. He also added, “Those (issues as mentioned by Lighthizer) are of course in the middle of the negotiations that are ongoing, but we’ve come further and farther than ever before.”

This newspaper, for quite some time, has been estimating a successful conclusion of the US-China trade talks. At the end of February it published “The Sino-American trade conflict may be resolved soon”. Unquestionably, the matter proved to be much more serious than Trump thought.

America’s multi-polar power structure won’t be derailed by his nonsense;.US capitalism has been investing in China even since the times of John Davison Rockefeller Sr.

the sting Milestone

Featured Stings

Can we feed everyone without unleashing disaster? Read on

These campaigners want to give a quarter of the UK back to nature

How to build a more resilient and inclusive global system

Stopping antimicrobial resistance would cost just USD 2 per person a year

DR Congo: UN food agency triples aid in strife-hit Ituri province

Thailand gave healthcare to its entire population and the results were dramatic

A world first: Women at the helm of every UN Regional Commission

PM May fosters chauvinism, declares trade war on Europe

Berlin wants to break South’s politico-economic standing

Prevention is key to ‘breaking the cycle of HIV transmission’, UN chief tells General Assembly

China-EU Relations: Broader, Higher and Stronger

This simple digital solution could streamline global travel and boost trade during COVID – here’s how

If airlines were a country they’d be one of the world’s top 10 greenhouse gas emitters

Smart city experts should be looking to emerging markets. Here’s why

Coronavirus: MEPs call for solidarity among EU member states

Remain united for Syrians, UN envoy de Mistura urges Security Council

Health equity and accessibility for migrants is a peremptory demand

Empathic AI could be the next stage in human evolution – if we get it right

The Working Methods of the von der Leyen Commission: Striving for more at home and in the world

Parliament demands ban on neo-fascist and neo-Nazi groups in the EU

These cities have the best quality of life

European Commission calls on national political parties to join efforts to ensure free and fair elections in Europe

Climate change: Another year of record gas emissions, warns UN meteorological agency

Deadlock broken, South Sudan on road to ‘sustainable peace’, but international support still key

I cycled over 6,000km across the United States to document climate change. Here’s what I learned

ITU Telecom World 2016: it’s all about working together

New UN bullying report calls for ‘safe, inclusive’ schools for all children

It’s getting harder to move data abroad. Here’s why it matters and what we can do

Do the giant banks ‘tell’ Britain to choose a good soft Brexit and ‘remain’ or else…?

We can’t tell if we’re closing the digital divide without more data

Global Talent – Professional Internships

Nitrate pollution of water sources: new impulses for EU Water Policy?

We need to give voice to ‘We the Peoples’, says UN chief

1 in 7 people would choose not to fly because of climate change

‘Don’t forget Madagascar’s children’, UN appeals for long-term help as emergency worsens

Public Policies for LGBT in Brazil

A digital tax sounds like a great idea. Here’s why it might not be universally popular

The financial crisis always prefers the south of Eurozone

Rule of Law: The Commission opens a debate to strengthen the rule of law in the EU

Who is responsible for public health? The tendencies and its benefits –or not– on Health Education around the world

A new leadership agenda for private equity

The UN has a 17-point plan to save the world. So how’s it doing?

UN chief and senior officials show solidarity with DR Congo during three-day visit

Parliament commemorates the victims of the Holocaust

Developing countries should not be liable for emissions ‘accumulated throughout history’, key UN development forum hears

How a bionic arm is helping one little girl enjoy the things most take for granted

These are the countries that have made their climate commitments law

‘Shared responsibility’ to stop 420,000 needless deaths from tainted food each year, UN, world leaders warn

Memoirs from a unique trip to China: “my new old dragon” (Part I)

Member states jeopardising the rule of law will risk losing EU funds

Coronavirus: the truth against the myths: Lockdown by a novel coronavirus, named 2019-nCoV

Parental leave: why we can’t wait a century for equal rights for women

Multiprofessional action against the indiscriminate use of antibiotics

FROM THE FIELD: ‘Harvested’ rainwater saves Tanzanian students from stomach ulcers, typhoid

Why AI will make healthcare personal

EU Facility for Refugees in Turkey: third annual report shows continued vital and tangible support for refugees and their host communities

The European Parliament floating over the South China Sea

Humanitarian Aid 2016: The needs, the highlights, the crisis and the relief

Aung San Suu Kyi suspended from the Sakharov Prize Community

COVID-19: A coordinated EU health strategy needed, say MEPs

Syria: Why did the US now take the Russian offer for a truce? What next?

4 fixes for equipment supply chains before the next COVID-19 waves hit

More Stings?

Advertising

Speak your Mind Here

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s