Trump plans to "cease fire" with China? US Treasury Secretary first admits that the negotiations with China are extremely difficult.
Trump claimed that the Sino-US negotiations "are proceeding smoothly", and the US tariffs on China might be significantly reduced, "but not zero". Since he has no intention of canceling the reciprocal tariffs, there seems to be nothing to negotiate between the two countries. Either he maintains the reciprocal tariffs for his own face or chooses a complete concession to "cease fire" with China. Trump has no second choice.
US Treasury Secretary Mnuchin's tone differs slightly from Trump's. He said that the tariff war with China is "unsustainable", but formal negotiations between the two sides have not yet begun. He expects the talks to be "difficult." The Chinese side's demands are clearly laid out, and dialogue must be based on the premise of mutual respect. The US must make substantive concessions on the issue of tariffs.
Moreover, Trump's remarks lack persuasiveness. His unrestrained speech is not something new. Saying "significantly reduce" tariffs, given the current 145% tariff rate level on China, even reducing it by 100% would be considered significant, but it will not help alleviate the tariff war at all, as the rates remain extremely high. As one of the few technical bureaucrats in the cabinet, Mnuchin has a clearer understanding of the current situation than his president.
Original article: https://www.toutiao.com/article/1830155487242372/
Disclaimer: This article only represents the author's personal views.