As US-China talks resume, an end to years of trade tariffs may not signal a soft landing in rivalry
- Some analysts say any move by Washington to cut tariffs on Chinese goods would be solely in its own interests, rather than signal an abrupt change in President Biden’s China policy
- But fresh talks between US and China are said to be a sign that communication will continue, and is necessary, given the state of the global economy
Tuesday’s long-awaited meeting between top economic officials from China and the United States appeared to be a step toward a widely anticipated rollback of punitive tariffs on some Chinese products, four years after being put into place.
In their first call since October, Chinese Vice-Premier Liu He was said to have had a “pragmatic and frank” exchange with US Treasury Secretary Janet Yellen on economic and tariff issues, as well as the importance of stabilising the global industrial and supply chains, according to the official Xinhua News Agency.
“The exchanges were constructive,” the party mouthpiece said, adding that both sides believed that the global economy “is facing severe challenges, and it is of great significance to strengthen the communication and coordination of China-US macro policies”.
However, Chen Fengying, a senior researcher with the China Institutes of Contemporary International Relations, said after the talks that the tariffs have little impact on Chinese exports, which have seen extraordinary rises during the pandemic, and that Beijing will not make concessions.