30 Jul 2019
Talks on the trade war are underway once again as the U.S. and China look on to try and find an agreement that is satisfactory for both parties. The negotiations are taking place in Shanghai. Global businesses and the economy have been on the receiving end of the trade war.
Negotiators on behalf of both sides will be meeting on Tuesday and the talks will mark the first face-to-face meetings since the agreement at the G20 meeting last month. U.S. President Donald Trump had put the increase of tariffs on hold after reaching a deal with Chinese President Xi Jinping. Trump’s administration had previously banned Huawei’s products in the U.S., and trade with the Chinese tech company is only possible by buying a licence.
On Friday, Trump said, ‘I don’t think personally China would sign a deal if I had a 2% chance of losing the election…I think China would probably say: ‘Let’s wait. Let’s wait. Maybe Trump will lose, and we can deal with another dope, or another stiff.’
China has followed up on its promise to start purchasing American agricultural products again. Lifting the ban on Huawei products remains on China’s agenda and a priority during the trade war discussions. Chinese state media Xinhua stated, ‘The U.S. should take concrete measures to implement the relevant U.S. commitments and create favourable conditions for bilateral economic and trade cooperation.’