Leaders attending G20 summit in Buenos Aires, Argentina, last November. Photo: The Yomiuri Shimbun

Judging from official statements in recent weeks, the US and China are as far away from coming to an agreement on trade as they have been since a tariff battle ensued last year.

The two sides publicly blamed each other for the breakdown in talks last month, and there is no indication that either side is prepared to make concessions as a prerequisite for restarting talks.

The only glimmer of hope in recent days was the news that one of the top US trade negotiators, Treasury Secretary Steven Mnuchin, will meet in person with People’s Bank of China governor Yi Gang this weekend. It would mark the first face-to-face meeting between US and Chinese officials involved in trade talks since the discussions broke down.

There is speculation that such a meeting, which will take place in Japan at a gathering of Group of Twenty finance ministers, could break the ice for progress on restarting talks, even if the two don’t get far in laying the groundwork for such a breakthrough.

US President Donald Trump expressed confidence that he would have a meeting with Chinese President Xi Jinping at the G20 summit to be held in Japan this month and said that no decision on a new tranche of tariffs on Chinese goods would come before then.

“I will make that decision.… Probably right after the G20. One way or another I’ll make that decision – after the G20,” Trump told reporters on Thursday during a visit to France.

“I’ll be meeting with President Xi and we’ll see what happens, but probably planning it sometime after G20,” he stressed.

Leaders from G20 countries will convene in Osaka on June 28 and 29.

On May 10, after US accusations that China had backtracked on key concessions made during negotiations, the Trump administration raised tariffs on US$200 billion worth of Chinese goods from 10% to 25%. The increase came with a threat that 25% tariffs would be slapped on an additional $325 billion worth of Chinese goods.

Asia Times Financial is now live. Linking accurate news, insightful analysis and local knowledge with the ATF China Bond 50 Index, the world's first benchmark cross sector Chinese Bond Indices. Read ATF now. 

Join the Conversation

49 Comments

  1. Do you mind if I quote a couple of your articles as long as I provide credit and sources back to your weblog?
    My blog is in the very same area of interest as yours and my visitors would
    certainly benefit from some of the information you present here.
    Please let me know if this okay with you.
    Thanks a lot!

  2. I relish, lead to I found exactly what I used to be having a look for.
    You have ended my 4 day lengthy hunt! God Bless you man. Have a
    great day. Bye

  3. Hello would you mind letting me know which web host
    you’re using? I’ve loaded your blog in 3 completely
    different browsers and I must say this blog loads a lot quicker then most.
    Can you recommend a good hosting provider at a fair price?
    Thank you, I appreciate it!

  4. That is really fascinating, You’re a very skilled
    blogger. I have joined your rss feed and sit up for searching
    for more of your fantastic post. Additionally, I’ve shared
    your website in my social networks

  5. Do you mind if I quote a couple of your posts as long
    as I provide credit and sources back to your site?

    My blog is in the very same niche as yours and my users would really benefit from some of the information you present here.
    Please let me know if this ok with you. Cheers!

  6. Amazing blog! Is your theme custom made or did you download
    it from somewhere? A design like yours with a few simple adjustements would really make my blog shine.
    Please let me know where you got your theme.
    Thanks

  7. Fantastic beat ! I wish to apprentice while you
    amend your site, how could i subscribe for a blog site? The
    account helped me a acceptable deal. I had been tiny bit acquainted of this your broadcast offered bright clear idea

  8. Magnificent goods from you, man. I have understand your stuff previous to and you’re just too fantastic.

    I actually like what you’ve acquired here, certainly like what you’re saying and the way in which you say
    it. You make it entertaining and you still care for to keep it smart.
    I can not wait to read far more from you. This is actually a wonderful
    web site.

  9. Definitely believe that that you said. Your favourite justification seemed to be at
    the net the easiest factor to have in mind of.
    I say to you, I definitely get irked whilst other folks think about issues that they just do
    not realize about. You controlled to hit the nail
    upon the highest as neatly as defined out the
    whole thing with no need side effect , other people could take a signal.

    Will likely be back to get more. Thank you

  10. Heya! I just wanted to ask if you ever have any trouble with hackers?
    My last blog (wordpress) was hacked and I ended up losing months of hard work due to
    no back up. Do you have any solutions to prevent
    hackers?

  11. Naturally I like your web site, however you have to test the spelling on several of your posts. A number of them are rife with spelling problems and I find it very troublesome to inform you. Nevertheless I will certainly come again again!

  12. I do accept as true with all of the concepts you have offered in your post.
    They’re very convincing and can definitely work. Still,
    the posts are very brief for newbies. May just you please extend them
    a little from subsequent time? Thanks for the post.

  13. Hi! I understand this is kind of off-topic however
    I needed to ask. Does running a well-established blog such as yours take a
    large amount of work? I’m completely new to writing a blog however I do
    write in my diary everyday. I’d like to start a blog so I can easily share
    my own experience and views online. Please let me know if you
    have any kind of recommendations or tips for new aspiring bloggers.
    Thankyou!

  14. Good day! I know this is kinda off topic however , I’d figured I’d ask.
    Would you be interested in exchanging links or maybe guest writing a
    blog article or vice-versa? My blog goes over a lot of the same subjects as yours and
    I feel we could greatly benefit from each other. If you happen to be interested feel
    free to shoot me an e-mail. I look forward to hearing from you!
    Terrific blog by the way!

  15. I believe this is one of the such a lot vital info
    for me. And i am satisfied studying your article. However wanna commentary on few basic issues, The site taste is wonderful, the
    articles is really excellent : D. Good activity, cheers

  16. When some one searches for his essential thing, thus he/she desires to be available that in detail, thus that thing is maintained over here.

Leave a comment

Your email address will not be published. Required fields are marked *