Success of US China Trade Deal Depends on Negotiations of Next Week
Last updated on May 7th, 2019
As the US and China are trying to get the Trade Deal work, there might be a possibility that US China Trade Deal might not succeed. Liu He, the vice premier of China, and Steven Mnuchin, the Treasury secretary have decided to hold the summit in regards with the trade deal in Washington, next Week.
The deal might be a failure due to the various reasons among including restraining the Cybertheft by China and state subsidies at various levels of the Chinese government might not be addressed. These reasons are the prime objective of Trump administration to achieve during this Trade Deal.
Earlier it was also reported that a strong resistance is developing in China against the US China Trade Deal. According to experts, the deal is expected to create concerns in political and economic harmony within the country.
According to the head of the Department of International Relations at Bucknell University, Zhiqun Zhu, “The Chinese government will face resistance from SOEs and coastal provinces with dynamic trade with the US and other countries.”
The Trade War between both the Nations reached its peak during last year when both the countries imposed tariffs of worth millions on the product of each other.
There are also speculations that both the countries, in order to terminate the tensions between them are gearing up to declare a trade deal. It is possible that deal might be announced even next week when He and Mnuchin will be meeting up to discuss the trade deal between both the nations in Washington.
According to Myron Brilliant, the executive vice president and head of international affairs at the US Chamber of Commerce said to the reporters that Chinese negotiators have denied discussing cybertheft in the backdrop of negotiations of US China Trade Deal.
He also agreed that result of discussing cybertheft was “not a surprise,” as despite the accusations made by the US of stealing intellectual property – China has continuously maintained the stance of not violating cybersecurity agreement made in 2015 with President Barack Obama.
Although the US China Trade Deal is still set in future, yet the negotiations might prove to be a gruesome task. The success of meeting in next week depends on the both the government and it might not be easy for the US to agree on the Trade Deal knowing that cybertheft might still be a possibility.
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