No breakthrough, no deal announced – but high-level trade negotiations between the U.S. and China lasted through the day here in Washington.
This latest round of negotiations comes just days before Washington has threatened to increase some tariffs on Chinese goods. CGTN’s
Roee Ruttenberg reports the talks to appear to be moving forward positively.
At the start of the workday, Chinese and U.S. negotiators got down to work. They were meeting for the 13th round of high-level talks. Thursday’s talks in Washington lasted more than eight hours and were held behind closed doors.
At stake is an almost sixteen-month trade war between the world’s two biggest economies. The goal is to end the trade war or to at least press the pause button.
U.S. Donald Trump first imposed tariffs on China, triggering retaliatory tariffs. And the tit-for-tat that ensued. Early in the day, Trump tweeted:
Big day of negotiations with China. They want to make a deal, but do I? I meet with the Vice Premier tomorrow at The White House.
— Donald J. Trump (@realDonaldTrump) October 10, 2019
Big day of negotiations with China. They want to make a deal, but do I?
Toward the end of the day, the U.S. President seemed more optimistic.
“So, we just completed a negotiation with China, we’re doing very well. We’re having another one tomorrow. I’m meeting with the Vice Premier over at the White House and I think it’s going really well, I will say, I think it’s going very well.”
Chinese Vice Premier Liu He is leading the delegation from Beijing, which says trade disputes are best resolved through cooperation, not intimidation.
Speaking in Australia, Trump’s Commerce Secretary Wilbur Ross defended Washington’s approach.
“America does not love imposing tariffs. In fact, we would prefer not to use them. But after years of discussions and no action, tariffs are finally forcing a number of our trading partners that had taken advantage of us to pay attention to our concerns.”
The ongoing trade war has adversely affected both economies and indeed in the world.
Here in the US, it’s estimated the average American family is $800 worse off because of the tariffs. And Europe is tipping into recession experts say, in part, as a domino effect from the trade war.
Higher tariffs are planned on October 15. They are being raised on $250 billion ’ worth of Chinese imports – from 25-percent to 30-percent. And on December 15th – just before the shopping holidays – a whole new round of tariffs. At that point, all Chinese imports will be taxed.
As a concession to the US, China could start buying more American agricultural products.
But Washington’s big ask – in terms of structural changes to the Chinese economy, and more U.S. access to the Chinese economy in areas like technology – will need to be negotiated over a longer period of time.