Beijing and Washington extinguish fire of trade war

Beijing and Washington extinguish fire of trade war

Yesterday, the United States imposed sanctions against two transport companies in China in connection with the situation around the DPRK. Washington considers these companies helped Pyongyang to transport cargo by sea, bypassing the sanctions imposed on the DPRK. At the same time, there was information that US President Donald Trump insists that China increase purchases of American goods two to three times compared with Beijing’s previous proposal for additional imports by $ 1.2 trillion over six years. China-US trade consultations continue.

The Wall Street Journal reported Tuesday that "negotiators for the US and China have scheduled a new round of high-level trade talks in Beijing and Washington… US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin plan to fly to Beijing next week," and Chinese Vice Premier Liu He will travel to Washington in the following week. As of press time, neither Beijing or Washington has commented on the report.  

As Global Times writes in the article Rationality continues to guide China-US trade talks, China and the US have maintained close contact since the seventh round of talks in February and have made substantial progress in settling remaining difference. Divergences still exist, but both sides believe that none are irresolvable. China and the US are both positive about resolving differences fairly and equally.

Earlier this month, US President Donald Trump said that there would either be "a good deal or it's not going to be a deal." This is obviously also the bottom line of China. Both China and the US have a strong willingness to overcome key divergences so as to prevent the worst case scenario from becoming a reality.  According to foreign media reports, the main difference between the two sides now is the mechanism to ensure that the final agreement can be implemented and on the question of how to cancel the tariffs. Theoretically speaking, as long as both parties have enough sincerity to reach an agreement, those issues should not be stumbling blocks. 

It has been four weeks since the seventh round of talks. Regardless of confusing information, the trend that Beijing and Washington are meeting each other halfway to resolve issues has been further consolidated. Notwithstanding the uncertainties, no reasons or motives have been observed yet from either side to neglect the existing results. An old Chinese saying goes, "No discord, no concord." Another says, "A good gain takes long pain." After all the twists and turns of the past year, the two countries have achieved new understandings not only of each other's will and strength, but also a recognition for mutual benefit and fairness.