Negotiations between President Trump and Chinese president Xi Jinping appear to be getting closer and closer to a resolution. The trade war has been going on for 8 months with the U.S. placing tariffs on $250 billion worth of imports from China and China responded with tariffs on $110 billion worth of U.S. goods.
President Trump delayed a tariff increase on $200 billion in Chinese goods which points at progress between the two countries.
In a couple weeks, a summit at Trump’s Mar-a-Lago estate in Florida is scheduled to take place and White House officials have hinted that the two Presidents close a deal then.
One issue sure to arise at the next summit is the new tech law presented by President Trump and Tim Stratford, The chairman of the American Chamber of Commerce in China. The tech law would prohibit Beijing from stealing or pressuring other countries to hand over technology. Negotiations are also ironing out the details of how the law will be enforced if it’s adopted. China is reluctant to adopt this new law, but they may not have a choice after economic growth hit a three-decade low as a result of the tariffs placed by Trump.
Other issues that will be discussed are enforcement mechanisms to ensure that President Xi Jinping honor his pledges to construct policy that will better safeguard U.S. intellectual property, end forced technology transfers and curb industrial subsidies.
Negotiations between Washington and Beijing will more than likely also address China’s pledges to purchase more farm, energy, and manufactured products.
President Trump and President Xi Jinping are both eager to end the trade war, but it has been stated by Trump that he would have no problem leaving the negotiation table if China isn’t willing to play fair.
It is refreshing to have a president that knows what a good deal looks like and who isn’t afraid to wait out the turbulence in order to do what’s best for America in the long run. The next summit is only a couple weeks away and you can rest assured that President Trump won’t be pushed around at the negotiation table.