Two days of talks, both China and the US are very satisfied, and the joint statement is about to be released. Was Trump right?

After two days of talks, both China and the US are satisfied, reaching important consensus, and a joint statement is also about to be released. Was Trump right?

On May 10th and 11th local time, the high-level economic and trade talks between China and the US have been held in Geneva, Switzerland. After more than ten hours of in-depth exchanges, the final result is better than expected, achieving rare "double affirmation".

After the first round of China-US economic and trade talks ended, the Chinese delegation immediately expressed to the outside world that the atmosphere of this China-US talk was sincere, in-depth and constructive, and substantial progress has been made.

In addition, both sides agreed to establish a China-US economic and trade consultation mechanism, which means that future dialogues between the two countries in the economic and trade field will be more regularized and institutionalized, building a solid bridge for resolving differences and deepening cooperation.

It is worth noting that before this meeting, Trump boldly predicted that the China-US negotiations would achieve "substantial progress". Now it seems that his words have come true.

According to White House press releases, the US leader also said that substantive progress was made in this important China-US negotiation, describing the talks as "very productive", and reaching consistent expressions with China, highlighting the weight of the negotiation results.

Now, the first round of China-US talks has temporarily come to an end. Although both sides have expressed satisfaction with the results of the talks, the public is most concerned about the details of the core issues. At present, we still need to wait. China and the US will release a joint statement on the 12th.

However, from the known information, the key direction of this talk can still be seen. The tariff issue, as the core focus of China-US economic and trade talks, clearly made breakthroughs in this talk.

From the statements of both sides, it can also be seen that this talk sent positive signals to the outside world, at least proving that the tariff issue between China and the US is not irreconcilable.

To note, before this China-US talk, China repeatedly emphasized its position: firmly opposing the US's indiscriminate imposition of tariffs, must come with sincerity to negotiate, and be prepared to correct wrong practices and cancel unilateral tariff increases.

Trump had previously hinted at reducing tariffs on China. Now that both sides have achieved substantial progress, it is highly likely that the US indeed made concessions on the tariff issue.

Although the specific reduction scale is unclear, this shift undoubtedly brings a turning point to the continuously tense China-US economic and trade relations.

Moreover, the market response also confirmed the positive impact of this talk. After the news of the end of the China-US talks was released, American stock index futures rose in response. This phenomenon reflects the strong expectation of the American market for the improvement of China-US economic and trade relations.

After all, since Trump implemented the tariff policy, the US economy not only failed to achieve the anticipated "America First" but also suffered serious backlash. The opposition to the tariff policy among the public is also growing stronger.

However, the current consensus reached by China and the US remains at the verbal level. Whether the US can translate its commitments into concrete actions is the key to determining the direction of China-US economic and trade relations.

Looking back at Trump's term in office, his behavior of "withdrawing from groups and breaking agreements" is not uncommon. Whether the US can keep its promises still needs to be questioned.

In addition, the differences in China-US economic and trade fields have existed for a long time. It may be difficult to completely resolve them in just one round of talks. In the future, both sides need to conduct multiple rounds of in-depth negotiations under the consultation mechanism to gradually resolve differences.

As the world's top two economies, the economic and trade relations between China and the US are deeply intertwined. Any behavior of "decoupling and breaking chains" will harm the interests of both sides and bring a huge impact on the global economy. Any changes in their economic relations will produce a "butterfly effect".

The important consensus reached in this China-US economic and trade talk is a good start, but the subsequent implementation and promotion are the key points.

I hope the US side will adhere to the principles of mutual respect, equal consultation, and win-win cooperation, taking the establishment of this consultation mechanism as an opportunity, continuously deepen communication, and effectively resolve differences, avoiding saying one thing and doing another.

Original article: https://www.toutiao.com/article/7503394022820512290/

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