US-China Tensions HEATING UP as Trump-Xi Summit Talks Stall
Synopsis
Long a harsh and unrelenting critic of his so-called nemesis China, who he as characterised as “sending poison” into the United States. He also stated “We cannot allow China to continue to rape our country.”…
Long a harsh and unrelenting critic of his so-called nemesis China, who he as characterised as “sending poison” into the United States. He also stated “We cannot allow China to continue to rape our country.” Now he is back in office and on and all out offensive tariff war, US-China relations are tense as Trump-Xi Summit talks may take months to materialise.
Trump wasted little time in reigniting the dormant war with China he conducted during his first term, wasting no time imposing 20% percent tariffs on a variety of Chinese manufactured goods. Xi Jinping did not sit idly by as Trump fired this opening salvo, returning fire with sanctions on US companies and particularly targeting US agriculture.
The War Intensifies
For farmers in Montana and factory workers in Guangzhou, this must feel like deja vu almost like entering a time machine back to 2017. However this is not some tactical game playing out on a chess board,this has real consequences not just for American and Chinese citizens but the global economy as a whole.
For example, earlier this month China announced it would halt all imports of US beef. In essence dropping a nuke on a 1 billion dollar a year industry. However, China is not exactly in a position of strength as its slowing economy has led to some panic in the markets. A struggling property sector and a collapse in foreign investment levels have only been exacerbated by Trump’s tariffs.
This month, Xi held a gathering of 40 of the top CEOs of multinationals including titans such as BMW and Toyota. As he attempts to restore confidence to foreign investors in the Chinese economy “We must work together to stabilise global industry and supply chains,” Xi urged during the meeting. Although it seems that things will get worse before they get better as the infamous “Liberation Day” tariffs are just a couple days away. These are touted to include counterstrikes to nations who have imposed retaliatory tariffs on the United States.
Trump-Xi Summit Remains Elusive
Any hopes of a diplomatic reprieve to the situation seem like a pipedream at this moment. China remains reluctant to commit to the meeting wanting pre guarantees and agreements. “The Chinese side believes the Trump administration has not really figured out what is the way to deal with China and make a deal,” Wu Xinbo, the dean of the Institute of International Studies at Fudan University stated on Friday. Wu was part of a delegation of retired Chinese officials and academics who held talks in the U.S earlier this month.
China has also cited Trump’s fiery meeting with Ukraine President Zelensky as further cause to hold off on talks. Meanwhile, the U.S strategy towards China remains fairly vague. Recently Senator Steve Daines's trip marked only the second congressional visit to China in over five years. His attempts to lay the groundwork for a Trump-Xi Summit proved to be futile as he could not even thwart the aforementioned “beef ban”. If a meeting between leaders of the two most powerful economies can provide any relief to current hostilities we cannot know. When they can’t even agree on a meeting, can we really have high hopes for the Trump-Xi Summit?
Sources
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