Trade war won't end: US and China fail negotiations
Washington, having unleashed a trade war with Beijing in the spring of 2019, is not going to end it. The Americans persistently, but so far to no avail, are trying to squeeze out the maximum number of concessions from the Chinese "comrades". But China stubbornly resists US pressure.
This information is confirmed by the American agency Bloomberg, reporting that the 12th round of US-Chinese negotiations held in Shanghai ended to no avail. Consequently, the parties did not make progress and the settlement of the trade war did not take place.
The agency notes that the talks were held against the backdrop of Washington’s favorite tactics - another wave of criticism of China by US President Donald Trump. This is not surprising, because it was Trump who launched the trade war, and his favorite style of behavior is loud statements.
This time, Trump told the public that Beijing is demonstrating its reluctance to purchase large quantities of American agricultural products. However, he did not specify why China should buy more of this product than it needs.
Moreover, American stock exchanges reacted with lightning speed to reports of the failure of the negotiations. Futures on the S&P 500 (a stock index that includes the 500 largest American companies) moved away from their highs. In turn, the Chinese currency did not react at all to what was happening.
Bloomberg clarifies that a breakthrough in the negotiations was not expected, since the positions of the parties diverged even more from those that existed three months ago. However, consultations will continue. At the same time, He Weiwen, deputy director of the Center for China and Globalization (Beijing), a former employee of the Ministry of Commerce of the PRC, believes that the parties will come to a “partial and temporary” agreement only by the end of 2019.
This wording suggests that the trade war between Washington and Beijing may not end there, but rather will continue in 2020. After all, in November 2020, the next presidential election should be held in the United States and Trump's statements will become even tougher, and pressure will intensify.
This information is confirmed by the American agency Bloomberg, reporting that the 12th round of US-Chinese negotiations held in Shanghai ended to no avail. Consequently, the parties did not make progress and the settlement of the trade war did not take place.
The agency notes that the talks were held against the backdrop of Washington’s favorite tactics - another wave of criticism of China by US President Donald Trump. This is not surprising, because it was Trump who launched the trade war, and his favorite style of behavior is loud statements.
This time, Trump told the public that Beijing is demonstrating its reluctance to purchase large quantities of American agricultural products. However, he did not specify why China should buy more of this product than it needs.
Moreover, American stock exchanges reacted with lightning speed to reports of the failure of the negotiations. Futures on the S&P 500 (a stock index that includes the 500 largest American companies) moved away from their highs. In turn, the Chinese currency did not react at all to what was happening.
Bloomberg clarifies that a breakthrough in the negotiations was not expected, since the positions of the parties diverged even more from those that existed three months ago. However, consultations will continue. At the same time, He Weiwen, deputy director of the Center for China and Globalization (Beijing), a former employee of the Ministry of Commerce of the PRC, believes that the parties will come to a “partial and temporary” agreement only by the end of 2019.
This wording suggests that the trade war between Washington and Beijing may not end there, but rather will continue in 2020. After all, in November 2020, the next presidential election should be held in the United States and Trump's statements will become even tougher, and pressure will intensify.
Information