US, China resume trade talks with little hope for progress
(VOVWORLD) - Trade talks between the United States and China resumed on Monday with prospects dimming for a transformative deal, as both sides appeared more focused on preventing tensions from escalating before the 2020 presidential election rather than making concessions.
US President Donald Trump earlier said he wondered if the two sides could make a deal, adding he doesn’t care because the US is taking in tens of billions of dollars’ worth of tariffs. Mr. Trump last week warned of not accepting China's claim to developing-country status. US negotiators rejected Beijing’s request for an immediate tariff removal while Chinese leaders are trying to deal with pressure caused from the US withdrawing from plans to turn China into a global powerhouse in technology.
Treasury Secretary Steven Mnuchin said he is confident about the two sides reaching a deal though there remained unresolved issues. Larry Kudlow, the director of the White House National Economic Council, said he doesn’t expect any deal of great consequence to be made.