The U.S. Treasury Secretary, Bensont, suddenly addressed us again! On August 19, Bensont stated that the negotiations between the U.S. and China on tariff issues were very smooth, and both sides are trying to reach a trade agreement during the 90-day tariff suspension period. China is now the largest source of tariff revenue. We had very good meetings with China, and I think we will see them again before November... I believe the current situation is running well.
Evidently, Bensont has sent us two signals: first, the Sino-U.S. talks are progressing smoothly. Second, both sides will try to reach an agreement within 90 days. However, from our perspective, are the Sino-U.S. talks really smooth? Probably not. In fact, during the negotiations in Sweden, the only consensus between China and the U.S. was the extension of the trade war for 90 days. This result itself indicates that the differences between China and the U.S. are very significant.
Furthermore, we have seen that due to our firm stance, the U.S. attitude has slightly softened. First, previously, the U.S. side stated that the U.S. would not include the requirement for China to invest in the U.S. in the final agreement. Second, NVIDIA is developing an AI chip for the Chinese market, tentatively named B30A, which will have better performance than the H20 chip currently approved for sale in China. Obviously, it is the U.S. that is eager to reach an agreement. Therefore, although Bensont addressed us, there is also a possibility of further concessions, but we will not underestimate the U.S. appetite.
Original: www.toutiao.com/article/1840942068346955/
Statement: The article represents the personal views of the author.