Beijing to Open up to Trade Negotiations with the USA

Beijing to Open up to Trade Negotiations with the USA

Beijing is a well-established, rapidly developing metropolitan city situated in northern China. Stretching from the North, West, and South are the borders to the Hebei Province and towards the Southeast, the side is Tianjin capital of China. Beijing, being the capital of China, grew to become a political and educational hotspot. With excellent infrastructure and transportation system, Beijing is also a centre for trade and commerce. Moreover, Beijing also has deep roots in culture and heritage. Acting as a catalyst, Beijing is set to lay grounds for trade talks with The United States of America in early January.

China and the United States of America were involved in a trade dispute spanning nine whole months. The trade dispute had completely disrupted cash flow amounting to hundreds of billions of dollars. The pressure was weighing in on both the nations. Earlier this January, the Chinese and the American trade negotiations received a green-light on the 7th of January breaking the ice between the two nations. The Ministry of Commerce further affirmed the optimistic plan for trade talks by adding that Beijing will continue to be positive on the stance between the two nations. Gao Feng, spokesperson of the Ministry of Commerce of China stated that efforts will be made to hold future talks on trade with the USA, in Beijing on Thursday. Moreover, the two have been in close contact ever since. In reference to the 90-day tariff truce, Gao mentioned that China wholly appreciated the United States' decision to postpone the date in case of possible additional tariffs until March. Gao has gone on record to say "The two sides will arrange negotiations through meetings or phone calls at any time based on the progress,”. In response to the United States, China has also lowered the rate of tariffs imposed over imported automobiles from the USA in order to perform the agreement. "China so far is taking progressive action and is making positive gestures," said Gao.

In order to reign in on the accord between China and the States, Sinograin, China's leading state-owned enterprise, proclaimed soybean purchases from the USA on Wednesday earlier this month. Following a vice-ministerial level telephone call among the two nations, discussing trade disparity and intellectual property rights, the two countries have scheduled yet another discussion on trade. Wei Jianguo, the former vice-minister of trade, stated this to be a "positive signal". Additionally, Jiangou also laid emphasis on the advantages associated with upholding close contact. Resolving the trade war is the need of the hour and the US is required to deal with oscillating stock market rates, whereas China needs to focus on increasing import quality, such as agro products and airplanes, to reach out to growing domestic demand.

The dynamics of China-USA trade relations are evolving. Despite their past strained relation caused by the trade war has led to a number of challenges, economists’ project that the two nations can accomplish cooperation and competition simultaneously.

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