Foreign media: The world is happy to see progress in China-US economic and trade consultations

Abstract A new round of high-level Sino-US economic and trade consultations will be held in Beijing from February 14 to 15, and many foreign media are closely watching the progress of the consultations. The two sides tried to bridge economic and trade differences. According to "Nihon Keizai Shimbun" reported on February 10, the White House announced that it will be in Beijing from 14th to 15th...

The new round of China-US high-level economic and trade consultations will be held in Beijing from February 14 to 15, and many foreign media are closely watching the progress of the consultations.

Both sides strive to bridge economic and trade differences

According to "Nihon Keizai Shimbun" reported on February 10, the White House announced that it will hold a high-level China-US economic and trade consultation in Beijing from 14th to 15th. US Trade Representative Wright Heze, who is the head of the consultation, will visit China. This is another level of consultation since the high-level consultations held in Washington from January 30 to 31.

The report said that US Treasury Secretary Mnuchin will also participate in high-level consultations. Prior to this, US Deputy Trade Representative Grysh and others will visit China and hold deputy ministerial consultations from the 11th. Senior officials from the US Trade Representative Office, the Ministry of Finance, the Ministry of Agriculture, the Ministry of Commerce, and the Department of Energy will also participate.

The report said that China and the United States held high-level consultations in Washington at the end of January. In addition to China's import expansion policy and market opening, it also negotiated structural issues such as intellectual property rights and technology transfer. The extent to which this consultation can finalize specific initiatives has become the focus.

According to a report on the Singapore Lianhe Zaobao website on February 10, the Chinese Ministry of Commerce issued a statement on the 9th that China and the United States will further discuss the issue of common concern on the basis of the recent Washington consultations.

The trade war has caused the US to lose a lot.

According to a report on February 9th by Thailand’s Asia Times website, a new study published in February described this in detail as the leaders of US companies struggled to cope with the consequences of the Trump administration’s preference for tariffs. How much damage can be caused by the action of lifting a rock to lick your own feet.

According to the report, the Washington-based consulting firm World Trade Consulting has issued a report that estimates the consequences of the US's possible tariffs on Chinese products and the imposition of new tariffs on foreign cars.

Economists have found that the damage to the US economy could eventually reduce GDP growth by 1 percentage point and cause more than 2 million people to lose their jobs due to tariffs already imposed and possible further increases in tariffs and reprisals.

According to the report, tariffs on Chinese products alone – if the two countries fail to reach an agreement, will take effect on March 2 – will lose nearly 1 million jobs.

These direct effects do not include the loss of business investment due to increased policy uncertainty.

The report said that lost employment opportunities will be spread across the US states.

According to the report, the opinions against the Trump administration's trade policy have been supported by the two parties in the US Congress. Some forces are accumulating and hope to pass legislation to restrict the president's authority in trade policy.

According to the US Yahoo News website reported on February 9, the financial market once again expressed dissatisfaction with President Trump’s trade dispute with China.

According to the report, in January this year, investors were optimistic that the stalemate would be resolved before Trump’s March 1 deadline. The performance of the stock market was eye-catching, and the S&P 500 index rose 9.6%.

Regarding whether China and the United States can reach an agreement, the news reports are optimistic and pessimistic. As the deadline approaches, the stock market may continue to oscillate. If an agreement is reached, the trade between the two economies will normalize and the stock market will rise. If no agreement can be reached, the two sides will introduce more tariffs and other trade barriers, and the stock market will fall.

The report said, however, that the deadline of March 1 is not unshakable. Trump proposed this date in 2018, when he said that if there was no agreement at that time, he would impose a new round of tariffs on Chinese exports to the United States. But he can change this deadline and even cancel it.

According to the report, Trump made concessions when the government closed its doors and caused real turmoil in other areas of the airport and the economy. Republicans in Congress said they could no longer support him. If the United States and China cannot reach an agreement and Trump raises tariffs, his strategy for China will have the same experience. The stock market will fall, and Republican colleagues will clarify relations with Trump’s self-punishment. He endorsed the ally and critics, and he will give in because of the decline in support rates, perhaps down to the government's closing period.

The parties are cautiously watching the consultations

According to a report on February 9th by the US Congress Hill website, Trump cannot ignore certain unwritten rules governing administrative power. The most important one is the persuasiveness of the president. If other government departments or other members of their own government believe that the president is politically weak and incompetent, his leadership will be seriously damaged.

According to the report, further pressure on Trump to quickly end the trade war is that the tariff has hit the agricultural state that constitutes the key camp of the Republican Party. According to data from the US Department of Agriculture, in 2018, US soybean exports to China decreased by 98%, and farmers' net income fell by about 20%. Before the start of the trade war, China was the largest importer of American agricultural products. Due to the trade war, Canada, Argentina and Brazil not only replaced the US agricultural exports to China, but also proved their reliability as a supplier country.

After all, the pressure on Trump from the business world comes from big American companies. China is the largest market for General Motors and Apple's third largest market. Starbucks opened a new store every 17 hours in 2018.

The report believes that a truce on the tariff issue will likely revive China's business confidence. Therefore, signing an agreement to end the trade war is just around the corner.

According to a report on the Singapore Lianhe Zaobao website on February 10th, the West Michigan World Affairs Committee held a dialogue on the 40th anniversary of the establishment of diplomatic relations between China and the United States on the 8th. Chinese Ambassador to the United States Cui Tiankai said at the dialogue meeting that this year marks the 40th anniversary of the establishment of diplomatic relations between China and the United States. In the past 40 years, the mainstream of bilateral relations has always been cooperation and mutual benefit.

Cui Tiankai pointed out that it is normal for China and the United States to have differences. It is important for both sides to enhance mutual understanding and understanding and correctly judge each other's strategic intentions. "Competition" is not a bad word, and competition is also common in state relations. But now some people interpret the competition as zero and the game, the winner is all-inclusive, and even the winner is scheduled. This kind of thinking is very harmful to Sino-US relations and should be resolutely abandoned.

Cui Tiankai said that the social circles of the two countries, especially the industrial and commercial circles, are expecting predictable and stable economic and trade relations. The working teams of China and the United States are holding intensive consultations on economic and trade issues and maintaining confidence in the mutually beneficial and mutually beneficial agreement between the two sides. As long as the two sides insist on taking care of each other's concerns, they can always find a proper solution.

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