The U.S. and China made good progress in high-level trade talks today, Trump said, despite expectations that the two sides remain far away from a comprehensive deal
The United States and China made good progress in high-level trade talks on Thursday, President Donald Trump told reporters, despite expectations that the two sides remain far away from a comprehensive deal.
Trump further complicated the talks last week, when he suggestion he might use the negotiations to pressure the Chinese to investigate former Vice President Joe Biden and his son Hunter for any improper activities. “The Chinese understand that waiting is not an option, waiting out the president’s term is not an option,” Brilliant said.
In the latest talks, China is offering to increase U.S. access to its financial services and automobile markets. It has also said it would bolster intellectual property, or IP, protections. Trump has accused China of devaluing its currency to minimize the added costs of U.S. tariffs on American importers. Trump took the rare step of declaring China a currency manipulator in August, and it’s unclear if a currency deal would reverse that designation. The next semi-annual Treasury report on exchange rate practices of major trading partners is due to be released Oct. 15.
It remains unclear, however, whether Trump will agree to hold off on next week’s tariff increase based on the latest offers from the Chinese delegation. “Right now, the political conditions in both countries are just not conducive to a big deal,” Willems said during an event at George Washington University. “What we actually need to be thinking about now is, is there a way to build some confidence?”
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