U.S. and Chinese trade negotiators shift to Shanghai this week for their first i...
BEIJING/WASHINGTON - U.S. and Chinese trade negotiators shift to Shanghai this week for their first in-person talks since a G20 truce last month, a change of scenery for two sides struggling to resolve deep differences on how to end a year-long trade war.
President Donald Trump said on Friday that he thinks China may not want to sign a trade deal until after the 2020 election in the hope that they could then negotiate more favorable terms with a different U.S. president. Trump said after the Osaka meeting that he would not impose new tariffs on a final $300 billion of Chinese imports and would ease some U.S. restrictions on Huawei if China agreed to make purchases of U.S. agricultural products.Since then, China has signaled that it would allow Chinese firms to make some tariff-free purchases of U.S. farm goods.
“They are doing this little dance with Huawei and ag purchases,” said one source recently briefed by senior Chinese negotiators. White House economic adviser Larry Kudlow on Friday said he “wouldn’t expect any grand deal,” at the meeting and negotiators would try to “reset the stage” to bring the talks back to where they were before the May blow-up.
“Each side can take a small step first to build some trust, followed by more actions,” Tu said of the potential goodwill gestures.A delegation of U.S. company executives traveled to Beijing last week to stress to Chinese officials the urgency of a trade deal, according to three sources who asked to not be named. They cautioned Chinese negotiators in meetings that if a deal is not reached in the coming months the political calendar in China and the impending U.S.
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