1 August 2019
- Limited progress at trade talks reflects worsening relations with US, which will cause Beijing to pursue opportunities in alternative markets
- President Trump’s rhetoric towards China will grow increasingly hostile as US presidential election approaches in 2020
- China will increase its economic ties with other countries, creating new opportunities for businesses operating in these markets
Trade negotiations led by US Trade Representative Robert Lighthizer, US Treasury Secretary Steven Mnuchin, and Vice Premier Liu He resumed in Shanghai on 30-31 July, with the Chinese side adding a new senior negotiator to their team, Commerce Minister Zhong Shan. This is the first meeting since President Xi and President Trump agreed to restart trade talks at the G20 summit in June. Prior to that, negotiations had stalled in May, because Trump raised tariffs from 10% to 25% on USD 250 billion of Chinese imports. The latest talks made no notable progress, with tariffs…
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