Although the expectation for the first meeting between Chinese and American delegations during the trade war is high, it is difficult to know if the meeting in Geneva, Switzerland will be able to change the direction of the dispute.
The United States do not seem willing to take the first step and make concessions. Asked on Wednesday (7) about whether he would be open to taking 145% tariffs on Chinese products, US President Donald Trump was straightforward: he responded with a categorical “no”. The answer caused a drop in the main indicators of the US market.
On the side of China, the spokesman for the Ministry of Foreign Affairs, Lin Jian, said that Beijing will defend justice in the negotiations and argued that the dialogue is based on mutual respect. He also said that no form of pressure or coercion will work against China.
The weekend meeting can bring advances or just the opposite: the certainty that both sides will continue to climb the trade war using not just tariffs but other coercion mechanisms. It is possible that the cycle of retaliation continues even with the threat of great damage to both parties.
Trade between China and the United States has already been severely impaired; The number of cargo ships coming out of China towards US ports fell 60% in April, according to Flexport data, a logistics platform. JP Morgan Bank estimates that Chinese imports in the United States fall up to 80% in the second half of the year.
Amid the impacts, the Wall Street Journal newspaper has revealed that China has interrupted the dissemination of hundreds of economic indicators over the last few years. The report cites as examples of real estate sales, foreign investments and employment indicators.
The information was used by researchers, journalists and investors. With the disappearance, it is even harder to know exactly the impact of the trade war between the two largest economies in the world.
This content was originally published in trade war: meeting between China and the USA can be decisive on the CNN Brazil website.
Source: CNN Brasil
Bruce Belcher is a seasoned author with over 5 years of experience in world news. He writes for online news websites and provides in-depth analysis on the world stock market. Bruce is known for his insightful perspectives and commitment to keeping the public informed.
