August 9, 2020

Trump sends China to senior government positions to continue negotiations

The White House announced on Saturday that US Foreign Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin will travel to Beijing next week to continue negotiations to end the trade war between the two countries. .

"Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin will travel to Beijing for main level meetings beginning March 28, 2019, to continue negotiations aimed at improving trade," said the spokeswoman. the White House, Sarah Sanders, in a statement.

In addition to Lighthizer and Mnuchin, the American delegation will be made up of senior officials from the Executive's business division.

On the other hand, Sanders assured that the US "looks forward to welcoming" a delegation from China led by Vice Premier Liu He, for meetings in Washington from next April 3.

Negotiations to resolve the trade dispute between the two countries continue after the extension of the original 90-day term – which ended on March 1 – established in the truce signed on December 1, 2018 by US President Donald Trump and his Chinese counterpart, Xi Jinping.

At the end of February, Trump announced that the US It delayed the expected increase in tariffs for Chinese products in the face of the "advances" reached during the last round of trade negotiations held in Washington.

The president then insisted that he would meet "in the not too distant future" with Xi to refine the details of an eventual agreement.

Trump agreed with the official Chinese agency Xinhua that the negotiations had achieved "substantial progress".

According to the US president, that round was "very productive" and progress was made on key issues such as "protection of intellectual property, transfer (forced) technology, agriculture, services, foreign currency and many other issues."

However, it remains to be seen if this Friday's decision of the Inter-American Development Bank (IDB), whose majority shareholder is the US, to cancel its annual assembly in China, scheduled for next week, may affect trade negotiations. between Washington and Beijing.

The trade war between the two largest world economies, unleashed by the aggressive protectionism of the US president, has generated uneasiness and volatility in international financial markets.

Both the International Monetary Fund (IMF) and the World Bank (WB) have lowered their forecasts of global economic growth as a result of trade tensions between Washington and Beijing.


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