U.S. Secretary of State Mike Pompeo said on Monday he thought the United States ...
WASHINGTON/BEIJING - U.S. Secretary of State Mike Pompeo said on Monday he thought the United States and China were “on the cusp” of a deal to end their trade war, adding to positive signs about negotiations from both sides of the Pacific.
His comments echoed positive sentiments earlier on Monday from White House economic adviser Kevin Hassett and a spokesman for China’s parliament. The United States has demanded that China make substantial changes to its laws and practices to protect U.S. intellectual property, end forced transfers of U.S. technology to Chinese firms, curb generous industrial subsidies and open the domestic market to U.S. companies.
In Beijing, some Chinese officials and trade experts say they now increasingly anticipate any concessions to fall short of massive changes to China’s state-driven economic model sought by the Trump administration. But with President Donald Trump backing away from a March 1 deadline to raise tariffs on Chinese goods, signs of slowing U.S. growth and a re-election campaign heating up, they say Trump’s appetite to hold out for deep, immediate changes may be waning.
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