No Us-China Trade Talks for 2 Weeks Running: Is Trump Preparing for an Ultimatum?
U.S. President Donald Trump claims he’s in no hurry to conclude a trade deal with China. Is he really being aloof about it? | Source: Win McNamee/Getty Images/AFP
U.S. President Donald Trump has said on March 14 that he is not in a rush to complete a comprehensive trade deal with China after facing roadblocks in industrial policy compromisation.
In recent months, the U.S. and China are said to have focused their discussions on the protection of intellectual properties of U.S. companies, which Chinese negotiators have not backed down from.
Consequently, according to a Reuters report, no in-person talks have been held in over two weeks.
Is Trump Desperate?
On a podcast, former Goldman Sachs President Gary Cohn said that the U.S. and the Trump administration is desperate to land a trade deal with China.
Following the Hanoi Summit wherein the U.S.-North Korea deal fell apart after the U.S. multiple missile sites, Cohn said that the President needs a win for the 2020 U.S. Presidential Election.
He emphasized that while the U.S. and China are in agreeance of bringing down the trade deficit, it will be challenging to get China onboard in paying for intellectual properties and even more difficult to enforce it.
I think the U.S. is desperate right now for an agreement. the president needs a win. The only big open issue right now that he could claim as a big win that he’d hope would have a big impact on the stock market would be a Chinese resolution. Getting the trade deficit down I will never say is easy,