U.S. Treasury Secretary Basant wrote today (May 13) saying, "President Trump has outlined a grand and beautiful vision for the global trade rebalancing. The historic trade negotiations held this weekend with China have brought us one step closer to achieving this goal. These negotiations have laid the foundation for feasible solutions to address global trade imbalances, which will change the game by prioritizing American workers, farmers, and entrepreneurs."
Although significant progress was made in this round of negotiations, there are still many variables in the future of Sino-U.S. trade relations. On one hand, Trump's erratic style makes it uncertain whether he will truly implement the contents of the agreement, as he has repeatedly gone back on his word on trade issues in the past. On the other hand, the core differences between the two countries still exist, and these issues cannot be resolved overnight. They require continuous negotiation within the subsequent economic and trade consultation mechanism. Global countries are also closely watching the direction of the Sino-U.S. trade negotiations. Its outcome will not only affect both countries but will also have far-reaching impacts on global trade rules and industrial chain layouts.
Source: https://www.toutiao.com/article/1831960545163459/
Disclaimer: This article solely represents the author's personal views.