 "Is China discussing a tariff deal with Trump? Beijing says ‘currently evaluating’ negotiation offer")
China has said that it is “evaluating” an offer from the United States for talks to resolve the ongoing trade war between the two countries.
Since assuming office in January, Trump has imposed tariffs on numerous tranches on China, with so-called reciprocal tariffs reaching 145 per cent and some goods having tariffs as high as 245 per cent . China has also retaliated with 125 per cent tariffs on US goods.
Even though both sides have granted exemptions to blunt the effect of tariffs on their entwined economies, they have not yet engaged in direct, public negotiations to address the ongoing trade war. However, both sides have said they are open to talks .
US President Donald Trump has claimed that he and Chinese leader Xi Jinping have talked had a conversation on the matter over the phone, but China has denied any such call between the two leaders.
US should show sincerity for talks, says China
Even as China said that it is “currently evaluating” an offer from the Trump administration, China said that the United States needs to show sincerity.
“If the U.S. wants to talk, it should show its sincerity and be prepared to correct its wrong practices and cancel the unilateral tariffs,” said China’s Commerce Ministry in a statement, according to CNBC.
The statement further said that senior US officials have reached out recently “through relevant parties multiple times” with the hope to start negotiations with China on tariffs.
Even as China showed openness to talks, it said that the United States should remove all unilateral tariffs and the failure to do would who “an outright lack of sincerity” from the Trump administration and “further compromise mutual trust.”
Impact Shorts
More ShortsSo far, the two sides have granted certain waivers. Trump has exempted electronics, such as smartphones, semiconductors, and computers , from tariffs. He has also exempted imported cars and cars’ parts from tariffs. China has exempted the import of pharmaceuticals, aerospace equipment, semiconductors, and ethane, from the United States.
Negotiations are hard as Trump is chaotic, says expert
Dan Wang, the China director at risk consultancy firm Eurasia Group, told CNBC that the US-China negotiations are “difficult to start because Trump is chaotic”.
Wang said, “China will not risk losing control of the situation just for the negotiation’s sake.”
Wang said that the United States and China will only announce public negotiations when details have been ironed out privately. She said that until such an understanding is reached, the two sides will adjust with period waivers.
“A more likely scenario is just a long-lasting painful truce with both sides doing their own type of rolling back in practice without backing down politically in public. It can easily last the entire Trump term,” said Wang.
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