Calm attitude needed for future China-US trade negotiations

Source:Global Times Published: 2019/6/29 18:57:52

The meeting between Chinese President Xi Jinping and US President Donald Trump on sidelines at the G20 summit in Osaka broke the deadlock between the two countries since early May. According to a briefing by the Chinese side, the two sides have agreed to restart trade consultations with the US declaring not to impose new tariffs on Chinese products. Trump said his meeting with Xi was "excellent" and "we're right back on track."

The resumption of China-US negotiations and the US decision not to impose a new round of tariffs on $300 billion worth of Chinese goods are in line with global expectations over the summit in Osaka. The result shows that the international community's assessment is correct — the trade war is jeopardizing the interest of both countries and can hardly last long. It would be economically and politically unwise if the US insists on continuing the trade war with China.

Of course since trade talks between Beijing and Washington have suffered more than one setback, people are skeptical about how far the new trade consultations can go and whether they will end in an agreement. It is hoped that the negotiating teams from the two countries will abide by the spirit of the latest meeting between the two heads of states and won't dent the international community's confidence in China and the US, ultimately leading to a resolution of the thorny dispute. 

During the meeting in Osaka, Xi and Trump agreed to restart the trade consultations on equal terms and mutual respect. The US fulfilling its commitment is the key to success of future negotiations. 

Over the past year, the US has been using tariffs as a stick to force China to make concessions, which only led to China becoming more determined. It is believed after several rounds of contests, the world is now convinced of China's strong will and resilience.

Needless to say, the Chinese society is aware of US's strength in the trade war. But we also have increasing faith in our own tenacity forged by China's strength and advantages brought about by its political system. In earlier escalation of tensions, China maintained a stable economy. The Chinese society is more confident and more united today. 

It is hoped that the US will negotiate with China in an earnest manner so as to create a fair deal which can be accepted by the both and promote both countries' economic development. The US has always said it wants a good deal. It must be aware that China wants the same thing. The balance of power between China and the US determines that there will only be a win-win deal, never a unilateral-win agreement. 

During his meeting with Xi, Trump said he harbors no hostility toward China. This remark is worth welcoming. It is hoped that this attitude of Trump can affect US elites who are involved in making and implementing US policies on China, promoting cordial interactions between Beijing and Washington, reducing mutual suspicion and improving their communications. 

After the bilateral meeting in Osaka, Trump told media that "US companies can sell their equipment to Huawei." If the statement can lead to lifting the technical blockade of Huawei, it will help China have a new understanding of the nature of the trade war. It is to be seen what happens next. 

After several ups and downs, the Chinese society has formed a calm attitude toward the China-US trade war and the bilateral relationship. It is hard to predict external factors. But we can do our own things well, such as developing our economy and carrying out reform and opening-up comprehensively. 

No matter how far we are from reaching a trade agreement with Washington, the distance does not matter that much as long as we firmly take every one of our own step ahead.

Posted in: EDITORIAL

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