China, US to ‘work out de­tails’ to avoid trade war

Wash­ing­ton’s ‘in­sa­tiable ap­petite’ is still a con­cern

Global Times - Weekend - - TOP NEWS - By Ma Jingjing

China and the US will work out de­tails of their con­sen­sus on avoid­ing a trade war in the up­com­ing third round of trade talk, an­a­lysts said Fri­day, while warn­ing that Bei­jing should watch out for Wash­ing­ton’s “in­sa­tiable ap­petite.”

A US del­e­ga­tion led by Com­merce Sec­re­tary Wil­bur Ross will visit China on June 2-4 to con­tinue con­sul­ta­tions with their Chi­nese coun­ter­parts on eco­nomic and trade is­sues, the Xinhua News Agency re­ported on Fri­day.

The ar­range­ment was con­firmed in a phone con­ver­sa­tion on Fri­day be­tween Chi­nese Vice Premier Liu He and Ross, Xinhua said.

Based on the con­sen­sus reached by the two coun­tries dur­ing the last con­sul­ta­tion in Wash­ing­ton, Ross’ up­com­ing visit is ex­pected to work out de­tails of the deal, ex­perts pointed out, warn­ing that the US may con­tinue to push China to make con­ces­sions.

“The third round of talks is likely to cen­ter on is­sues like the in­crease in the amount of US im­ports, elim­i­nat­ing the ban on ex­ports to China of high-tech prod­ucts and how China will im­prove the coun­try’s patent law,” Bai Ming, deputy di­rec­tor of the In­ter­na­tional Mar­ket Re­search In­sti­tute un­der the Min­istry of Com­merce, told the Global Times on Fri­day.

China and the US an­nounced on May 19 that the two coun­tries had reached a con­sen­sus to avoid a trade war by mainly al­low­ing the US to ex­port to China more of its prod­ucts and ser­vices.

In­sa­tiable ap­petite

Though China-US trade ten­sions seems to have been tem­po­rar­ily re­lieved, US’ uni­lat­er­al­ism has just be­gun, Zhang Mo­nan, re­search fel­low with China Cen­ter for In­ter­na­tional Eco­nomic Ex­changes, told the Global Times on Fri­day.

“The US is ini­ti­at­ing wider trade fric­tions with oth­ers in the Euro­pean Union, Ja­pan and Canada. In the long term, the US aims to clamp down on other coun­tries, not just China,” Zhang said.

“Con­sid­er­ing that the full-blown trade war was, as US Pres­i­dent Don­ald Trump said, put ‘on hold’, China should be fully pre­pared for the in­sa­tiable ap­petite of the US,” she said.

On Tues­day, Trump ques­tioned the agree­ment his ad­min­is­tra­tion reached with China, in­di­cat­ing he is not sat­is­fied with the deal, USA To­day re­ported.

“No, not re­ally… I’m not sat­is­fied, but we have a long way to go,” he said in re­sponse to a ques­tion about the trade talks.

At the same time, he said that his ad­min­is­tra­tion could lift re­stric­tions on Chi­nese tele­com gi­ant ZTE if the com­pany pays a fine of as much as $1.3 bil­lion, ac­cord­ing to USA To­day.

China’s high-tech sec­tor may be se­verely shocked in the short term, but the two coun­tries’ fric­tions in the sec­tor will in turn push for­ward China’s in­no­va­tion-driven de­vel­op­ment and en­hance its global com­pet­i­tive­ness, Zhang said.

“The Made in China 2025 strat­egy is sig­nif­i­cant for China to move to­ward the higher end of global in­dus­try chain from lower end. We will not make any con­ces­sion to coun­tries at­tempt­ing to hin­der China,” Bai said.

China’s stance on the China-US trade re­la­tion­ship is clear and open, Chi­nese For­eign Min­istry spokesper­son Lu Kang said at a daily press brief­ing on Fri­day.

We be­lieve that the essence of the China-US trade re­la­tion­ship is about mu­tual ben­e­fits and win-win re­sults, and hope the US leader and his ad­min­is­tra­tion – with the aim of main­tain­ing global eco­nomic growth and in the in­ter­est of con­sumers and com­pa­nies, will meet China half-way to re­solve dis­putes and prob­lems, he said.

“China has re­acted ra­tio­nally and calmly to China-US trade ten­sions. It’s likely that China will fight back if the US asks for more,” Zhang noted.

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