The Trump team has started trade talks in Beijing, but it is very unlikely they will get anywhere, says economist Arthur Kroeber, author of China’s Economy: What Everyone Needs to Know®, in CBS. The internal divisions in the US team are only a part of the problems to gain ground, he says.
CBS:
The talks are unlikely to accomplish much, noted Arthur Kroeber, head of research for Gavekal Research. The American “coalition of trade warriors and national security hawks” agree that China poses a threat to U.S. dominance, yet they haven’t formed a “coherent strategy,” he said in a research note.
“Above all, the professionals are hamstrung by President Donald Trump, who absurdly insists that the main goal should be a US$100 billion reduction in the bilateral trade deficit,” he said.
He added, “The team-of-rivals delegation brings differing objectives to Beijing. Mnuchin would probably like to cut a deal on tariffs and deficit reduction and focus on improving market access for US firms in the lucrative China market.”
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