Pamela Coke-Hamilton, head of international trade at UNCTAD, said that due to the size of the economy in the United States and China, the tariffs imposed by the two countries will inevitably have a major impact on international trade.
Both sides were earlier in the stage of a 90-day tariff truce, which began on Dec. 1 at the sidelines of the G20 summit in Buenos Aires. Now they have been moving into a new round of high-level economic and trade consultations in Beijing.
With only half a month left in the trade “close truce” period on March 1, the task is quite urgent and significant for both parties who are trying to end the trade conflict through dialogue.
Feb. 14 – Feb. 15, 2019
The two-day talks are led by Liu He, Chinese Vice-Premier and also a member of the political Bureau of the Communist Party of China Central Committee, and US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin, with the participation of dozens of senior officials from both governments.
“I personally think that the probability of postponement of Sino-US consultations is relatively large.” Li Haidong, a professor at the School of Foreign Affairs, told the Global Times on the 13th that Trump has recently kicked off the re-election campaign. Besides, the polls and the stock market – two indicators Trump personally valued – have fallen with the Sino-US trade disputes. Objectively speaking, the news of the delay is a positive signal for trade negotiations between China and the United States, indicating that the US hopes to reach an agreement. Both China and the United States are aware that the trade war will not be good for both sides.
Liu Zunyi, former president of the Chinese University of Hong Kong, published a book entitled “Path to common good: The China-U.S. Trade War and Future Economic Relations “, hoping to let everyone understand that neither of the two sides sees its relationship with the other as a zero-sum game.
Professor Liu has been optimistic in predicting that the Sino-US trade war is likely to end in March.
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