Trade talks between U.S. and Chinese officials to resume
Share Now on:
U.S. Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer are set to resume trade negotiations with Chinese officials in Shanghai on July 30, according to White House officials.
Last week, White House economic adviser Larry Kudlow said he didn’t expect any “grand deal” to come out of the talks, but that negotiations were ready to move forward.
James Green, the top trade official at the U.S. Embassy in Beijing until earlier this year, said U.S. negotiators need to realize that China’s consumers are now buying much more Chinese stuff than even five or 10 years ago. He says there are plenty of other destinations for Chinese goods.
“I think there’s a miscalculation on some in the U.S. that look at China’s trade-weighted GDP and say: ‘Oh, China’s desperate for an agreement.’ I don’t see the macro situation quite that way,” said Green.
We’re here to help you navigate this changed world and economy.
Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.
In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.
Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.