A fresh round of negotiations between the US and China is taking place in Shanghai
The President of United States (U.S.) – Donald Trump has said that China is responsible for the slow progress of the trade talks between the two nations.
His remarks come after he had a word with the U.S. delegates who are in Shanghai for the 12th round of negotiations. The fresh round of negotiations began today, i.e., Tuesday, July 30, 2019. The U.S. delegation in Shanghai is spearheaded by U.S. Trade Representative – Robert Lighthizer and U.S. Secretary of Treasury – Steven Mnuchin who met the Chinese delegation, headed by Vice-Premier of China – Liu He. Besides, for the first time, the Commerce Minister of China – Zhong Shan is playing a direct role in the negotiations.
During the trade talks, U.S, asked China to increase the import of U.S.’s farm products whereas China asked U.S. to remove the additional tariffs imposed on Chinese goods by the President of U.S. – Donald Trump. This is for the first time that negotiations are being held in Shanghai.
Talking about the slow progress of the trade talks, Donald Trump tweeted, “China is doing very badly, worst year in 27 – was supposed to start buying our agricultural product now – no signs that they are doing so. That is the problem with China, they just don’t come through. Our Economy has become MUCH larger than the Chinese Economy is last 3 years.”
China is doing very badly, worst year in 27 – was supposed to start buying our agricultural product now – no signs that they are doing so. That is the problem with China, they just don’t come through. Our Economy has become MUCH larger than the Chinese Economy is last 3 years….
— Donald J. Trump (@realDonaldTrump) July 30, 2019
He further tweeted, “My team is negotiating with them now, but they always change the deal in the end to their benefit. They should probably wait out our Election to see if we get one of the Democrat stiffs like Sleepy Joe. Then they could make a GREAT deal, like in past 30 years, and continue.”
..My team is negotiating with them now, but they always change the deal in the end to their benefit. They should probably wait out our Election to see if we get one of the Democrat stiffs like Sleepy Joe. Then they could make a GREAT deal, like in past 30 years, and continue
— Donald J. Trump (@realDonaldTrump) July 30, 2019
The talks resumed between the 2 nations after President of China – Xi Jinping and Donald Trump met during the G20 Summit in June 2019 at Osaka in Japan. Prior to this, U.S. had increased tariff on Chinese goods worth U.S. $ 200 billion, from 10% to 25% in May 2019. In response, China also increased tariff on U.S. goods worth U.S. $ 60 billion, from 10% to 25%, from June 1, 2019. China has also accused U.S. of promoting economic terrorism.
China is also hosting a dinner for the U.S. delegates at Fairmont Peace Hotel, a landmark building in the historic Bund area by the Huangpu River. The details of the discussions have not been shared with the media as China wants to ensure that no confidential information is leaked at this point. Only a few select Chinese State media agencies have been permitted to report or even comment on the trade talks.
A commentary published by the official Xinhua News Agency today, said that U.S. trade delegates should learn from former President of the U.S. – Richard Nixon who quietly visited Shanghai in 1972, and signed the Shanghai Communique for improving ties with China.
The Xinhua read, “Today once again in the metropolis of Shanghai, US negotiators need to demonstrate that same sincerity and, more importantly, reasonable expectations in the relaunched trade talks … to normalise bilateral trade relations.”
The trade talks will also be held at Xijiao State Guest Hotel in the Changning District of Shanghai, where Nixon had stayed during his 1972 visit. The Chinese consider it lucky.
