China warns any progress on trade talks would be nixed if U.S. imposes tariffs.
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  时间:2024-09-22 05:33:01
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Another round of trade negotiations between China and the United States ended on Sunday without any kind of agreement. Although both sides said there was some progress made in how to decrease China’s $375 billion trade surplus with the United States, it does seem the talks were overshadowed by the surprise announcement Tuesday to revive a plan that would impose tariffs on $50 billion of Chinese imports.

“If the United States introduces trade sanctions including a tariff increase, all the economic and trade achievements negotiated by the two parties will not take effect,” said the Chinese statement, carried by the official Xinhua News Agency. It noted that in order for talks to progress, they should be based “on the premise that the two sides are coming from opposite directions and will not fight a trade war.”

The statement made it clear tensions with Beijing have once again increased after they had eased earlier last month following China’s promise to boost purchases of products and services from the United States. That led Treasury Secretary Steven Mnuchin to say that any trade war was “on hold” mere weeks before the latest plan was unveiled that would impose tariffs and restrict Chinese investment.

Analysts say there seems to be little doubt the trade talks that ended Sunday between an American delegation led by Commerce Secretary Wilbur Ross and a Chinese team headed by Vice-Premier Liu He didn’t achieve much. “It seems like negotiations ended in another stalemate, without either side really conceding anything,” Nick Marro, an analyst with the Economist Intelligence Unit, said. “There’s still a lot of uncertainty.” Some noted that the statement issued by the Chinese government is uncertain about whether anything agreed to in negotiations could simply be undone by an impulsive president. “China is concerned over the U.S.’s unpredictability, especially after Trump turned an about-face on tariffs,” said Gai Xinzhe, an analyst at Bank of China’s finance institute in Beijing. “Trump needs to give out more goodwill in exchange for really productive negotiations. Bluff, threat, and willful moves might work in business bargaining, but they could backfire in talks among nations.”

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