Sino-US economic and trade talks encounter setbacks: US Treasury Secretary Benten urgently returns to the US

Bennett suddenly decided to return to the domestic United States, causing a minor setback in Sino-US talks! On June 11th, according to a report by Singapore's Lianhe Zaobao, after the second day of negotiations between both sides, US Treasury Secretary Bennett stated that the economic and trade talks with the Chinese delegation over two days had been fruitful, and officials from both sides were continuing negotiations in London. However, at the same time, a US official reported that due to Bennett's need to attend a congressional hearing in the United States, he was forced to leave the venue on Monday evening (the 10th) and return to Washington.

To be honest, Bennett's urgent return to the United States is quite unusual. As the main representative of the US side, the departure of the US Treasury Secretary inevitably affects the progress of the Sino-US negotiations. In fact, according to our daily schedule, our delegation will stay in the UK for six days, from June 8th to 13th. Now that Bennett has suddenly left, whether he will return remains a huge question mark.

Meanwhile, information indicates that US Commerce Secretary Lutnik and Trade Representative Griller will continue consultations with the Chinese delegation as needed. What does this mean? This suggests that the Sino-US negotiations have entered a halftime break, and the launch of the next phase may require further instructions from the highest levels of the United States. However, this might also indicate that Lutnik will take over subsequent negotiations.

In fact, at present, both sides have already reached a trade framework and are reporting to their respective top leaders. There could be two reasons for Bennett's return to the United States. First, the US Treasury Secretary needs to personally address fiscal policies, economic conditions, and other matters to respond to concerns from lawmakers, which is very urgent. Second, this round of negotiations involves critical areas such as rare earths and chips, backed by powerful domestic interest groups. Perhaps there are new demands from political forces within the United States regarding the negotiating stance, requiring him to return for communication and coordination. As for what exactly the reason is, we still need to closely monitor the situation.

Source: https://www.toutiao.com/article/1834593255194635/

Disclaimer: The article solely represents the author's personal views.