Always a Winning Game: Trump's Optimistic Outlook on China Trade Talks
China-U.S. customs negotiations set for Monday, as declared by Trump
Here's the lowdown on the upcoming trade talks with China set to take place in London next week, according to Trump's latest announcements on his Truth Social network. The US Secretaries of Finance and Commerce, Scott Bessent and Howard Lutnick, along with trade representative Jamieson Greer, will be attending the talks. Trump exuded confidence, stating that the meeting should "go very well."
Following a recent phone call with Chinese President Xi Jinping, Trump described the conversation as "very good" and expressed optimism about finding a "positive outcome" for both countries. This dialogue comes in the midst of the ongoing trade dispute, with Trump imposing tariffs of up to 145% on China in early April, prompting retaliatory tariffs from Beijing. However, the two countries agreed to significantly reduce tariffs for an initial 90 days to facilitate negotiations in mid-May.
Meanwhile, there's something brewing behind the scenes, as insiders report that the US government has halted the delivery of spare parts for Chinese nuclear power plants. This decision apparently involves suspending nuclear equipment export licenses in recent days. Deals worth hundreds of millions of dollars are said to be affected, but neither the US Department of Commerce nor the Chinese embassy in Washington have responded to requests for comment.
What does this all mean? Well, the U.S. is stepping up its game in light of strategic and trade tensions. The decision to suspend licenses for nuclear power plant parts to China is part of a broader review of exports to China, particularly those involving strategic or sensitive technologies. This move is linked to accusations that China has reneged on its commitments regarding rare earth elements, which are crucial for various technologies, including nuclear reactors and green technologies. The U.S. is also reevaluating its approach to export controls to ensure they align with strategic and technological priorities.
All in all, the escalating tensions in the trade relationship between the U.S. and China show no signs of abating, with both sides trying to leverage their economic and technological influence to achieve strategic goals. Stay tuned for more updates on this developing story!
- Tariffs
- China
- USA
- Donald Trump
- Xi Jinping
- Nuclear power plants
- Rare earth elements
[1] https://ustr.gov/about-us/policy-issues/the-u-s-china-relationship[2] https://www.sec.gov/rules/final/2020/ftp-2020-1032.htm[3] https://www.nytimes.com/2021/07/22/business/us-china-rare-earths-trade.html[4] https://www.reuters.com/world/china/us-steps-up-criticism-chinas-rare-earths- exports-after-us-electric-vehicle-maker-cut-supply-2021-06-15/
- The ongoing trade dispute between the USA and China, as demonstrated by the tariff wars and the suspension of nuclear equipment export licenses to China, is a topic of significant interest to industries such as finance, politics, and general-news, creating a complex web of economic and strategic implications.
- In the context of the escalating trade tensions, the US government has determined it necessary to review exports to China, particularly those related to strategic or sensitive technologies, such as rare earth elements crucial for various technologies, including nuclear reactors and green technologies, as part of a broader policy to protect its economic and technological interests.
