Because the nature of the dispute between China and the U.S. is more complex, officials in Beijing are likely of the view that it be much tougher to resolve, Amy Celico, Principal of Albright Stonebridge Group and previously Senior Director for China Affairs at the Office of the U.S. Trade Representative, told Bloomberg Television.
"For U.S.-China trade, it is going to be much more difficult to come to a short-term resolution, particularly if we sit back for a minute and look at some of the rhetoric coming out of this administration," Celico said. "The hawks are certainly in the ascendancy on China trade policy."
Meetings between Chinese and U.S. officials in Washington last week made little headway, setting the stage for the U.S. to push ahead with the next round of tariffs on up to $200 billion worth of Chinese goods. Beijing has said it would retaliate.
The two days of talks led by U.S. Treasury Undersecretary for International Affairs David Malpass and Vice Commerce Minister Wang Shouwen marked the first major interaction between the two sides since June.
Trump wants to shrink a $375 billion goods deficit with China and Beijing to unwind industrial subsidies and scale back its "Made in China 2025" plan to lead the world in industries such as artificial intelligence and robotics. So far, there’s been little indication of compromise.
Still, Trump did hold the door open for an eventual resolution with China.
"It’s been too one-sided for too many years, for too many decades and so it’s not the right time to talk," he says, "But eventually I’m sure that we’ll be able to work out a deal with China."
This article provided by Bloomberg News.