Neither the U.S. nor China wants to be seen as the party that derailed trade talks, says William Reinsch of Center for Strategic and International Studies.
tariff fight over the weekend is unlikely to derail trade negotiations between the two economic giants, an expert from the Center for Strategic and International Studies said Monday.
That's because neither the U.S. nor China wants to be seen as the party that caused talks to break down — which will have repercussions on their political image, said William Reinsch, the think tank's senior advisor and Scholl Chair in international business. "If Trump pulls out, it's a major failure for him. He's spent a year tweeting about how much progress we're making, the negotiations were great ... to dump it all now would subject him to great criticisms," Reinsch told CNBC's"On the Chinese side, they spent a lot of time claiming that they're the good guys, they respect the rules. If they pull out, I think it hurts their image," he added.
A smart move for Trump is trying to reach an agreement in October 2020 because then ... people would have voted before they figure out it's any good or not.Washington and Beijing have been negotiating for an agreement to resolve issues such as intellectual property rights protection in China, Chinese state subsidies to government-owned companies and bilateral trade imbalance.
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