Positive signals on trade

One day after China and the United States ended their latest round of trade talks, the White House issued a statement on Monday saying that the meetings focused on reducing the US’ trade deficit by facilitating the supply of agricultural and energy products to meet China’s growing consumption needs, which will help support growth and employment in the US.

“The United States officials conveyed President Donald Trump’s clear goal for achieving a fair trading relationship with China, and the delegations will now report back to receive guidance on the path forward,” the statement said.

Although short and tersely-worded, the statement transmits the unambiguous message that both sides want to push forward bilateral trade negotiations. Such a message comes amid speculation by the Western media that the trade talks between the world’s two largest economies over the weekend were not productive.

It also wants to highlight to the American people the government’s efforts to reduce the trade deficit with China.

And the White House statement conveys the message that the US recognizes the growing demand in China, which seems to be a positive response to China’s earlier statement that “China is willing to increase imports from the world including the US to meet its people’s ever-growing desires for a better life and its high-quality economic development requirement”. Such a US expression is particularly important given that China makes it clear that its imports from the US are not irreplaceable.

China’s trade surplus with the US is not a result of China’s “unfair trade policies”. So, the White House statement that the US wants to achieve “a fair trading relationship with China” also means the long-term complexity in Sino-US trade will not change. — CRI ONLINE