Washington / Beijing (AP) - In the midst of the trade war with China, US President Donald Trump downplayed the importance of rapid agreement. He does not necessarily need a trade deal before the presidential election in November 2020, Trump said in the White House.
It is more important to him than a small success that it comes to a comprehensive agreement. "We want a complete agreement," he said. The New York Stock Exchange gave in to Trump's comments, as the trade war between the two largest economies is clouding global growth prospects.
Both sides ended Friday's two-day preparatory talks in the US capital for the resumption of negotiations in early October. The Chinese side saw "constructive discussions". During the "serious" talks at the vice-ministerial level, the plans for the planned negotiations were discussed, the official news agency Xinhua reported on Saturday. However, the wording did not go beyond earlier standard phrases after such discussions. Also, no exact date was specified when the negotiations resumed.
The short-notice cancellation of a visit by Chinese delegation members in the two agricultural states of Montana and Nebraska, which was planned following the work talks in Washington, caused irritation. According to media reports, the Chinese Vice Minister of Agriculture Han Jun wanted to visit the two agricultural regions from Monday, but returned to Beijing prematurely. He was part of the Chinese delegation to the talks, which also saw an expansion of exports of agricultural products from the US to China.
The refusal and Trump's statements cloud the prospects for an early settlement in the negotiations. When Trump started the trade war more than a year ago, he still thought such a conflict was "easy to win." Since then, the US government has announced or imposed punitive tariffs on almost all imports from China - worth about $ 500 billion worth of goods. In doing so, Trump wants Beijing to concede concessions to improve trade relations. He also calls for structural reforms and a control mechanism to comply with the agreement.
A senior senior Chinese business planner revealed details of US claims that plunged negotiations in May. Li Deshui, most recently head of the Bureau of Statistics, spoke of unacceptable conditions in an article quoted by the Hong Kong newspaper South China Morning Post. The US has demanded that China complete its laws. They also demanded a mechanism that would have allowed them to impose sanctions at any time without Beijing being able to retaliate.
The US also attempted to restrict China's high-tech industry and state-owned enterprises, said Li Deshui, formerly a prominent economic planner in Beijing. China should have opened its markets and the financial sector "unconditionally". "This is a completely unfair treaty trying to colonize China," Li Deshui used a language reminiscent of the imperialism of Western powers in the 19th century.