No deal but Chinese state media strikes positive tone over China-US trade talks
The US needs to be rational and pragmatic and more negotiations are needed to avert the threat of a trade war, say state-run Chinese newspapers
With US President Donald Trump’s team of trade negotiators having come and gone with no public signs of a deal, China tried to strike a positive tone while underscoring that the US should not make unreasonable demands.
State media over the weekend offered a somewhat positive assessment of the US trade talks, urging more negotiations while saying the Americans should be “rational and pragmatic”.
And in a move that would meet some US demands, the Commerce Ministry was studying measures to further lower import tariffs on some food, pharmaceuticals and medical instruments, Economic Information Daily reported on Monday, citing unidentified people.
UBS Group chief China economist Wang Tao said in a note: “In the next couple of months, we expect continued negotiations are likely to result in a scaleback of the current proposal on tariffs as China quickens its implementation of some announced opening and reform measures. As a result, we expect any direct impact on exports and economic growth from higher tariffs will be limited.”
Two days of discussions ended on Friday in Beijing with an agreement to keep on talking but little else, leaving the US threat of tariffs on as much as US$150 billion of Chinese imports still in play.