- China Pushing Back on Trade Talks
Some of U.S. representatives on trade talks are saying China is now pushing back on trade talks despite President Trump assurance of success.
According to the people familiar with the negotiations, Chinese officials appeared to have shifted their stance following the failure of President Trump administration to assure them that tariffs imposed on their exports will be lifted.
The officials are also stepping back from the previous commitment over data protection of pharmaceuticals, and have refused to give ground on data-service issues, another person familiar with the U.S.’s views said.
Robert Lighthizer, U.S. Trade Representative Treasury Secretary Steven Mnuchin will travel to Beijing by the end of March to try iron-out their differences.
“Talks with China are going very well,” President Trump said in response to a question at the White House during a joint press conference with Brazilian President Jair Bolsonaro on Tuesday.
Failure of the two world’s largest economies to reach an agreement on trade would impact global growth and increase global risks.
Experts, however, believed the two will agree at some point, especially as president Trump needs a positive outcome for his re-election campaign and China is struggling to cushion her slowing economic growth.