On May 10th local time, the tranquility of Geneva, Switzerland was broken by a highly anticipated high-level closed-door meeting between China and the United States. As the world's two largest economies, China and the United States held in-depth consultations here to address trade disputes and seek an opportunity to ease bilateral trade tensions. On the first day of the talks, U.S. President Trump's post on social media sent the heat of this negotiation soaring!
Trump posted on social media on May 10th, saying: "Today, we had a very pleasant meeting with China in Switzerland. Both sides discussed many issues and reached many consensuses. We negotiated comprehensively to restart the bilateral relationship in a friendly and constructive manner. We hope to see China open up to American businesses, which is in the common interest of both countries. Significant progress has been made!" This statement contains a wealth of information, not only affirming the atmosphere of the meeting but also revealing in-depth discussions on multiple fields, as well as America's urgent demand for China's market opening.
Trump emphasized that the meeting was "pleasant," and these seemingly simple four words may be the first positive signal released by the U.S. side. In previous Sino-U.S. trade negotiations, due to differences in positions and interests, the negotiation atmosphere was often tense. By specifically mentioning this point, Trump may intend to set a positive tone for this negotiation, alleviate the adversarial emotions caused by trade disputes, and create a favorable atmosphere for subsequent in-depth negotiations and exchanges.
Trump claimed that both sides discussed many issues and reached many consensuses. The Sino-U.S. trade dispute involves a wide range of issues, from tariff issues, intellectual property protection, market access, industrial policies, drug cooperation, etc., each issue affecting the whole situation. If both sides really reach consensuses on many issues, it will be a breakthrough. However, in diplomatic settings, such statements can sometimes be diplomatic rhetoric, especially given Trump's tendency to talk big. Looking back at past international negotiations, parties tend to emphasize the positive aspects when issuing statements. Therefore, we need to further observe whether these so-called "consensuses" can translate into specific policy measures and actions.
Trump's call for "comprehensive restart of bilateral relations" hides multiple calculations: the trade war has backfired on the U.S. economy, with high tariffs driving inflation and disrupting supply chains, and the business community is pressing to restore trade with China; internationally, the stalemate in Sino-U.S. relations weakens American influence, and restarting dialogue becomes crucial for balancing global strategy.
The U.S. demand for China to open its market exposes a typical double standard. For years, American companies have enjoyed extensive business in the Chinese market, from technology to finance, retail to automobile manufacturing, sharing the dividends of China's economic development. Apple, Tesla, and others have benefited, yet the U.S. has imposed numerous barriers on Chinese companies, with Huawei and TikTok being repeatedly unjustly sanctioned. China has clearly stated: market opening must be based on equality and mutual benefit. The U.S. needs to abandon trade bullying first, eliminate unreasonable sanctions, and achieve two-way opening through consultation.
This high-level economic and trade negotiation between China and the U.S. in Geneva is a key dialogue amid the continuous escalation of trade frictions. Since Trump took office, the U.S. has wielded the tariff stick, imposing up to 145% tariffs on Chinese goods, with some goods reaching cumulative tariffs of 245%, attempting to narrow the trade deficit, bring manufacturing back to the U.S., reshape American economic advantages, and contain China's development. In response to the U.S.'s unreasonable sanctions, China swiftly and strongly retaliated by imposing 125% tariffs on American goods. Amid this give-and-take, Sino-U.S. trade陷入了"disconnection and disintegration," causing global economic fluctuations. Domestically, U.S. consumers complained about soaring import costs, corporate profits declined, and economic growth slowed; while China's exports were affected, they partly offset losses by actively developing emerging markets like ASEAN.
In this high-level economic and trade negotiation between China and the U.S., the U.S. delegation was led by Treasury Secretary Beasant and Trade Representative Greer. Earlier that day, as the U.S. delegation left their hotel for the venue, Beasant and Greer wore smiles and American flag badges with red ties. Beasant did not speak to the media. Meanwhile, several dark Mercedes vans departed from the lakeside hotel where the Chinese delegation stayed, and locals were warming up for the weekend marathon nearby.
In Geneva, the first day of the high-level talks between China and the U.S. lasted about eight hours, indicating the multitude of topics and significant differences between the two sides, as well as their determination to seek breakthroughs. Although details and results of the talks have not yet been disclosed, the public is generally concerned about two key issues: whether tariffs can be substantially reduced and how much the Chinese market will open to American businesses.
Tariffs: Previously, Trump indicated that there is no room for further increases in the current 145% tariff on China, implying future reductions, and hinted that tariffs might be lowered to 50-54%. However, the White House spokesperson emphasized that unilateral tariff cuts would not occur unless China makes concessions first. The inconsistent remarks from the U.S. side have made the direction of tariff changes highly uncertain. For China, the precondition for lowering tariffs is that the U.S. demonstrates sincerity by canceling unreasonable unilateral tariffs and returning to fair trade principles. After all, in this tariff war, China has consistently adhered to a principled stance, firmly defending its own interests and international fairness.
This negotiation not only concerns the economic interests of both countries but also affects the direction of the global economy. As the world's two largest economies, the stability of Sino-U.S. trade relations is critical to the normal operation of the global supply chain and industrial chain. If both sides reach consensus, reducing tariffs and expanding market openness, it will inject a strong boost into the global economy and promote global economic recovery; conversely, if the negotiation fails and the trade war escalates further, the global economy will face greater downside risks.
In this game of maneuvering, China always holds the moral and strategic advantage. On one hand, China is a staunch supporter and promoter of economic globalization. China's development achievements stem from its own efforts and open and inclusive policies, rather than so-called "unfair trade." On the other hand, China has a vast market, a complete industrial system, and strong innovation capabilities. When dealing with trade frictions, it has sufficient resilience and confidence. Although the U.S. attempts to exert pressure in trade negotiations through its economic and military advantages, facts have proven that the tariff war has not achieved its intended goals but instead damaged the U.S. economy itself.
Undoubtedly, the Sino-U.S. economic and trade negotiations will not proceed smoothly or be accomplished overnight, and they are bound to experience twists, setbacks, and even intense struggles. We must have a bottom-line mindset, prepare for the worst, remain steadfast regardless of wind or rain! No matter what happens, the fact that both sides are willing to engage in dialogue is important in itself. If both sides simultaneously announce tariff reductions, even if the scale is small, it will send a positive signal. It is worth noting that among the countries involved in the global tariff war initiated by Trump, China is the only one that has implemented reciprocal countermeasures, making this action highly significant. China's countermeasures are principled, advantageous, and measured, demonstrating its determination to defend its own economic interests and international fair trade rules, and showing that China will not bow to bullying. It is precisely China's firm reciprocal countermeasures that have made the U.S. realize China's determination to uphold its rights, preventing the U.S. from acting recklessly on trade issues and securing equal dialogue space for subsequent negotiations.
Looking ahead, regardless of the outcome of this Geneva negotiation, China will unwaveringly follow the path of reform and opening-up, promoting high-quality economic development and strengthening cooperation with countries around the world. At the same time, China will continue to defend national interests and firmly oppose any form of trade bullying. The grand drama of the Sino-U.S. trade negotiations has yet to conclude, and the world awaits with bated breath!
Original source: https://www.toutiao.com/article/7502988835182297635/
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