Day 390-391: July 30-31, 2019 – Trade negotiations in Shanghai end with little progress, with press releases, statements and other documents related to the enhancement of the free trade agreement. U.S. and Chinese negotiators continue trade talks in Beijing on Tuesday, April 30 and Wednesday, May 1. Mnuchin called the talks “productive” and confirmed that the two sides would continue negotiations in Washington next week. On the same day, Larry Kudlow, director of the U.S. National Economic Council, confirmed China`s assertion of what a customs agreement would be and told the media, “If there is a phase 1 trade agreement, there will be customs agreements and concessions.” The United States and China must resume negotiations on important policies that are not affected by the first phase agreement. Trump`s trade war has failed to address what really concerns U.S.-China trade relations. It is time for a new approach. Day 231-234: February 21-24, 2019 – U.S. and China conduct trade talks in Washington; Trump extended the customs deadline On January 7, official U.S.
and Chinese delegations began trade talks in Beijing, the first personal meeting since a 90-day ceasefire was approved that ends March 1. The Phase 1 agreement, signed in January after nearly two years of speech, is the only area in which the world`s two largest economies are still working together. The United States and China have reached a historic and binding agreement on a first-phase trade agreement, which requires structural reforms and other changes to China`s economic and trade regime in the areas of intellectual property, technology transfer, agriculture, financial services, currency and currencies. The Phase One agreement also provides for China to make significant additional purchases of goods and services in the United States in the coming years. It is important that the agreement creates a robust dispute resolution system that ensures timely and effective implementation and implementation. The United States has agreed to substantially amend its customs measures in accordance with Section 301. With less than two weeks to go before the highly anticipated G20 summit in Osaka on June 28-29, Xi and Trump have restarted trade talks over the phone. The two sides confirmed that they would meet in person on the sidelines of the summit to discuss the ongoing trade dispute. Previously, Trump had threatened to tip tariffs on the remaining $300 billion of unsavory Chinese imports, depending on the outcome of trade negotiations.
This affects a number of consumer products such as mobile phones, computers and clothing. These new tariffs were proposed in a bill that is scheduled for public consultation on July 2. But these victories are highly priced. Uncertainty created by Trump`s customs threats and trade approaches has weighed on the economy, raised business and consumer prices, delayed business investment and slowed growth around the world. Companies with China`s commitment such as Deere-Company and Caterpillar have laid off some workers and reduced revenue expectations, in part by referring to the trade war. But the deal has a lot of criticism on both sides that Mr. Trump`s tactics have been economically damaging and that the deal leaves many important economic issues unresolved. For Mr. Trump and other supporters, the approach to past trade agreements, which has allowed the outsourcing of businesses and led to the loss of jobs and industries. Critics say this is the kind of controlled trade that the United States has long criticized, particularly with regard to China and its control over its economy. At the same time, China imported more pork to cope with local shortages caused by the epidemic, resulting in U.S. pork exports exceeding their 2020 target (see Chart 3).