Home » US-China, the phone call that breaks the ice on trade

US-China, the phone call that breaks the ice on trade

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First telephone conversation between the heads of trade of the US and China on duties even if there are, at the moment, no signs of a concrete roadmap in the negotiations. The heads of the trade delegation spoke by telephone for the first time since Joe Biden became president of the United States, to resume the dialogue firm at the signing of the January 2020 agreement. discuss its “ongoing review” of business relations “. Deputy Prime Minister Liu He, for his part, raised “issues of common interest”, without, however, providing details.

US-China negotiations stalled

The goal is to keep the interview stalled for months. Liu He, the Chinese vice premier with a master’s degree in public administration from Harvard and Katharine Tai, the Chinese-born lawyer who grew up in Taiwan, American trade representative from March 18, will have to concretely reactivate the bilateral trade negotiations firm to the agreement signed in January 2020 but with the previous Trump-led administration.

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In order to put an end to the tariff war that started in 2018, Beijing accepted strict conditions including the purchase of 200 billion American products in two years, but a year later, at the end of Phase 1, China had imported only two-fifths. in agriculture products worth 23.5 billion (instead of 36.6), in energy just 9.8 out of 25.3 planned.

Beijing’s requests to the US to revise the punitive tariffs in any case fell on deaf ears, phase 2 of the agreement, therefore, remained on paper.

The imbalance of the trade balance

In 2020, in the meantime, China has restarted, however, so much so that the ports of Shanghai have reached the top of world traffic with a total volume of international trade equal to 8.75 trillion yuan.

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