• BCMstrategy, Inc.

QOTD -- US/China Trade Policy

Rhetoric from pundits and the press may be playing up the prospect of a "new Cold War" between the United States and China. But the reality on the ground looks much more nuanced.

It is true that the United States and a large number of countries around the world have been united in their opposition both to China's handling of the COVID-19 situation and its restrictions of civil liberties in Hong Kong. But when it comes to trade policy, the United States and China maintain a more positive relationship.

Consider today's statement issued after Chinese Vice Premier Liu He met via teleconference with Secretary Mnuchin and USTR Lighthizer:

The formal Phase I review may have been postponed, but at a very senior working level officials in Washington and Beijing continue to talk with each other. Both remain focused on "taking the steps necessary to ensure the success of the agreement." Meanwhile, in China, Premier Xi was publicly reaching out to American states, farmers, and businesses to continue cooperation and engagement despite deepening disagreements with Washington.

Diplomatic progress often is measured in terms of sideways steps that avoid angry rhetoric spilling out into the media. Today is one of those days.


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