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.

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

the European Sting Milestones

Featured Stings

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

Is there a way out of the next financial crisis? Can more printed money or austerity save us all?

How each country’s share of global CO2 emissions changes over time

Rising insecurity in Central Africa Republic threatens wider region, Security Council told

Sweden must urgently implement reforms to boost fight against foreign bribery

Foreign direct investments the success secrete of Eurozone

A Sting Exclusive: “China-Africa Cooperation Sets a Fine Example of South-South Cooperation”, by China’s Ambassador to EU

Here are three key ways that data analytics can improve the workplace

The ECB again takes care of the bankers not the people

5G will redefine entire business models. Here’s how

General Assembly officially adopts roadmap for migrants to improve safety, ease suffering

Brexit: Is there anybody supporting a non-violent separation?

Most leaders are missing this crucial character trait

Why your next work meeting should be a ‘walk-and-talk’

Clamp down on illegal trade in pets, urge Public Health Committee MEPs

It is me

Brussels to point the finger to Washington for lack of commitment over TTIP

5 things you need to know about creativity

A health approach to climate change

EU Ombudsman investigates the European Commission

Parliament supports plans to improve quality of tap water and cut plastic litter

End racist discrimination against Afro-European people in the EU

The importance of collaboration in the digital economy

CO2 can be a valuable raw material, not just a climate killer. Here’s how

A Sting Exclusive: “Cybersecurity: Why consumer products must be looked at urgently”, by BEUC’s Deputy Director General

G20 LIVE: “This was not an attack against France, this was an attack against the universal human values!”, EU President Juncker cries out from G20 in Antalya Turkey

Google succumbs unconditionally to EU’s “right to be forgotten” ruling

Aid spending fell in 2018, for the second year in a row

ILO and EIB join forces for more and better quality employment

What is the IMF telling Eurozone about fiscal and banking unification?

Suffering of thousands of war-affected Syrian children ‘unprecedented and unacceptable’

CLIMATE CHANGE FOCUS: The fruits of sustainability and decent work

The 28 EU leaders don’t touch the thorny issues

How a trade war would impact global growth

These countries have the highest minimum wages

UN food agency appeals for access to key storage facility amid fight for Hudaydah

Can the world take the risk of a new financial armageddon so that IMF doesn’t lose face towards Tsipras?

Modern farming is harming the planet. Tech-driven permaculture could heal it

Politics needs to “Youth UP” in order the ensure the future of our democracies

The COP22 is under full deployment while Donald Trump threatens openly to withdraw the US from the Paris agreement

EU sets ambitious targets for the Warsaw climate conference

More ‘political commitment’ needed urgently for HIV prevention: UNAIDS chief

Somalia: UN mission head condemns deadly terrorist attacks in Mogadishu, Galkayo

China’s cities are rapidly becoming more competitive. Here’s why

Burkina Faso: Dozens killed in clashes, UN chief condemns attacks

EU, Latin America and the Caribbean: Partnering for prosperity, democracy, resilience and global governance

The financial war touches Frankfurt and Berlin

Guinea President Alpha Condé: “We must tackle the root causes of migration”

EU Commission draws the wrong conclusions

Protecting farmers and quality products: vote on EU farm policy reform plans

We need to protect 30% of the planet by 2030. This is how we can do it

UN expert calls for international investigation into ‘evident murder’ of Jamal Khashoggi

Economy and living standards of Gaza ‘eviscerated’ by crippling blockade – UN trade and development report

Challenges remain in DPRK despite ‘slight’ improvements in health, wellbeing: UNICEF

UN agriculture agency digs in to help forests and farms build resilience to climate change

When is necessary understand the cultural marks in health-disease process

When will Eurozone’s unemployment rate stop being Europe’s worst nightmare?

‘Never give up’: UN chief urges all who serve, marking UN Day

Eurasian Union begins: the giant modelled on the EU is Moscow’s biggest challenge

The world’s e-waste is a huge problem. It’s also a golden opportunity

The European Parliament x-rays the troika’s doings

More Stings?

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