Opinion | As the clock ticks, there’s a path to a ‘win-win’ outcome in US-China trade talks
- Ankit Panda writes that a meeting between Donald Trump and Xi Jinping could result in a way out of the impasse, at least temporarily
The usual cast of characters were back at the negotiating table, trying to find a way to stem another round of US tariff increases that were stayed in December after the Buenos Aires G20 meeting between US President Donald Trump and Chinese President Xi Jinping.
US Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer were back in Beijing, where they again sat across the table from Vice-Premier Liu He, China’s lead trade negotiator. The US delegation also met Xi himself at the end of the talks on Friday.
Both nations said they had made progress to settle their disputes, but admitted there were still difficult issues to deal with. Negotiators will continue the talks in Washington next week.
The stakes are clear and the clock is ticking. The two sides need to arrive at an understanding by March 2, the day on which Trump has said he will move forward with an increase in tariffs.
At least that was the idea. In recent days, Trump has made multiple remarks that suggest the March deadline is anything but absolute. He has hinted he would be open to pushing it back if he sensed that a deal was around the corner. Reports have even suggested the White House is considering another 60-day extension of the tariff truce.
“They’re showing us tremendous respect,” Trump said of China’s attitude in the negotiations, adding that talks were “going along very well”. With Trump slated to travel to Asia at the end of the month for a second summit with North Korean leader Kim Jong-un in Hanoi, the prospect of a second meeting between him and Xi – right before the anticipated deadline – is very real.