While the world eagerly awaits official trade talks between China and the United States – their first since stratospheric tariff increases brought almost all bilateral goods shipments to a halt – analysts said the two countries’ back-and-forth over details of the dialogue suggests the prospects of a quick or substantial deal remain remote.
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Points of contention have been numerous, with Beijing claiming Washington blinked first and affirming confidence in the resilience of its domestic economy and the administration of US President Donald Trump doing the same.
“The US has recently repeatedly expressed its desire to negotiate with China. The talks will be held at the request of the US side,” Chinese foreign ministry spokesman Lin Jian said in a statement on Wednesday.
The Chinese embassy in Washington echoed these sentiments, saying China decided to engage the US after “carefully evaluating the information provided” by officials and added Beijing would not tolerate double standards or compromise its principles to reach a deal.
US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer are scheduled to meet Chinese Vice-Premier He Lifeng in Geneva during a four-day visit beginning Friday, in what most consider to be at most an overture for a future deal.
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On Thursday, the Ministry of Commerce reiterated earlier rhetoric, urging the US to drop its tariffs on Chinese imports even as Trump denied he would lower import duties on Chinese products as a goodwill gesture before discussions begin.