Modest Hope as U.S., China Resume Trade Talks

Experts doubt that this week’s relaunched trade talks between China and the U.S. will produce significant results anytime soon, The Wall Street Journal says.

Sources tell the newspaper that each side is looking to the other for a show of goodwill after weeks of reproaches when the previous round of negotiations stalled in May.

No progress has been made on two major points. China wants the U.S. to remove tariffs and the threat of reimposing them as part of a deal. The U.S. demands major reformations in Chinese law and government-industry relations that govern how business is conducted in the country.

High-level talks kicked off with a formal dinner today in Shanghai between Chinese Vice Premier Liu He, U.S. Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer. More substantive discussions will begin tomorrow, beginning with an assessment about whether anything can be saved from the draft deal they reached three months ago, the Journal says.

Meanwhile, President Donald Trump vows “a great deal…or no deal at all.” He also opines that U.S. terms will become much tougher if he is re-elected in 2020 with no settlement in place.