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Trade: G20 statements show US, China are on different pages

30 7 10
03.12.2018

WITH the eyes of the world on them, the United States and China came to an agreement that puts on hold their escalating trade war, reassuring business and rallying stock markets.

At the tail end of the weekend’s G20 Summit, delegations sat down to dinner to hash out an arrangement that would placate both sides.

The deal has averted US President Donald Trump’s January plans to hike tariffs on from 10 percent to 25 percent on US$200 billion of Chinese goods. In return, Beijing has agreed to buy more US products and start negotiations about intellectual property and technology transfer.

SEE ALSO: Could Trump and Xi’s ‘good’ chat spell an end to the US-China trade war?

The goal of placating both sides appeared to have been reached as statements from both the White House and Beijing called the dinner “highly successful.”

But that’s not all the statements said.

Each statement emphasised different results, highlighting how far there is still to go in reaching consensus and demonstrating the gulf between Chinese and American expectations.

Tariffs

Across the board, the US statement from Press Secretary Sarah........

© Asian Correspondent