Trump Believes US Gets the Upper Hand in Trade Talk with China
The trade talk between US and China officials will be held on January 7-8, 2019 to work toward a deal, while Trump believes that China desperately needs to achieve this deal.
The long-awaited trade talk between U.S. and China has finally begun. It has been a month since the G20 meeting that the US President Donald Trump and Chinese President Xi Jinping met, and there had not been any concrete commitments between the two countries from that unofficial meeting. Thus, investors will be paying more attention to the upcoming meeting between the US and Chinese officials during the two days meeting on January 7-8, 2019.
On Sunday, Trump asserted that weakness in the Chinese economy gave Beijing a reason to work toward a deal. He also told reporters at White House “I think China wants to get it resolved. Their economy’s not doing well. I think that gives them a great incentive to negotiate.”
The two countries are trying to work toward an agreement before March 1, 2019, which is the date given by the US for a structural reform especially Trump’s biggest complaint about Chinese trade practices: intellectual property theft, cyber theft and non-tariff barriers. If they fail to reach an agreement, the US may initiate an imposition of 25% tariffs on Chinese goods.
