Donald Trump’s trade negotiations with China have, in the words of US treasury secretary Scott Bessant, " become a bit stalled…"
US media reports suggest the US president is pinning his hopes on a phone call with Chinese president Xi Jinping as soon as this week. But Trump himself is also sounding worried, recently posting on Truth Social, Xi is "extremely hard to make a deal with!!!" Gavekal partner and head of research, Arthur Kroeber has been writing about China policy and economic issues for more than 30 years. He has told The Business the only way to solve this stalemate is for the two leaders to talk to each other. He says China doesn’t want to have a phone call that would put Xi Jinping in a bad position, so the country is being cautious. He says Beijing would prefer to lower the temperature of these negotiations, so they will have to engage in talks with Donald Trump. Arthur Kroeber says Donald Trump doesn’t understand how trade and investment work or the interdependence of the US and China. He adds this is not just a tariff and trade war but a technology war.
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