US and China to hold trade talks as tariff deadline looms
By
Nick Beams
26 April 2018
US Treasury Secretary Steven Mnuchin will travel to China for trade discussions, possibly next week, ahead of the planned imposition of tariffs on up to $150 billion worth of Chinese goods, due to come into effect by the end of May.
Speaking on the negotiations during a press briefing with visiting French President Emmanuel Macron, President Donald Trump said there was “very good chance of making a deal.” But if no agreement were reached, the US would proceed with “very substantial tariffs” on Chinese imports.
Mnuchin first raised the possibility of a visit during the International Monetary Fund meetings last weekend. According to a Wall Street Journal report, he initially planned to make a visit on his own. But the negotiating team will include US Trade Representative Robert Lighthizer and possibly White House trade adviser Peter Navarro, both of whom are regarded as “hawks” on the issue of China trade.
According to the Journal’s report, the composition of the team “reflects divisions within the administration.” Mnunchin regarded as significant the recent speech by Chinese President Xi Jinping, offering concessions on restrictions on foreign auto firms and investment rules, while Lighthizer and Navarro considered that view to be naïve.
In the event, Mnuchin heads the team but he will be accompanied by what could be described as “minders.” The divisions are such that Scott Kennedy, a China specialist at the Washington-based Center for Strategic and International Studies, said his concern was that “the primary negotiations in Beijing will be between members of the American team rather than between the Americans and Chinese.”
There is considerable doubt as to…