US’s Expectations to Pressure China Into a Trade Deal “Absolutely Impossible” - Forex News by FX Leaders
US - China Trade War

US’s Expectations to Pressure China Into a Trade Deal “Absolutely Impossible”

Posted Monday, June 3, 2019 by
Arslan Butt • 1 min read

The rhetoric between US and China over escalating trade tensions continues to remain charged and there are no signs of progress on talks yet. On Sunday, a senior Chinese official and trade negotiator stated that it is “absolutely impossible” for the US to use extreme pressure and escalate friction to get China to sign a trade deal.

These comments were made by Chinese Vice Commerce Minister Wang Shouwen at a news conference. He also added, “During the consultations, China has overcome many difficulties and put forward pragmatic solutions. However, the U.S. has backtracked, and when you give them an inch, they want a yard.”

He insisted that the US had unreasonably high demands from China relating to China’s sovereign rights in the proposed trade agreement. According to Wang, the US has overestimated the trade deficit between US and China and China is not responsible for a fall in manufacturing jobs within the US.

Trump has confirmed his interest in meeting with Chinese President Xi Jinping at the upcoming G20 Summit in Osaka later this month. However, there has been no official response from China regarding this meeting.

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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