August 14, 2020

Issues That Will Shape Discussion As China-US Resume Trade Talks

Babajide Okeowo

Writer

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The looming ban on Chinese social media apps like TikTok and WeChat, the security law for Hong Kong, the ban of the technology giant, Huawei, from 5G wireless network projects are some of the issues expected to take center stage as China and the United States resume trade talks.

The two economic superpowers have been embroiled in a trade war since 2018 that has had a negative impact on the world economy.

US President Donald Trump has long accused China of unfair trading practices and intellectual property theft while China has countered that America is trying to curb its rise as a global economic power. TikTok WeChat

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The dispute led the US and China to impose tariffs, extra taxes on imports, on hundreds of billions of dollars’ worth of goods.

This tit-for-tat trade war began in 2018 and involved tariffs of more than $450bn (£344bn) worth of imports. It has rumbled on ever since.

A breakthrough happened at the start of this year when both countries agreed to relax some restrictions on each other, referred to as “phase one” of the negotiations.

In January both countries agreed to ease restrictions imposed on imported goods from each other.

However, relations have become increasingly strained in the last six months over a wide range of issues.

US President Donald Trump has clashed with China recently over two Chinese apps, TikTok and WeChat, which could be banned in the US over national security concerns amongst a myriad of other issues.

Now, there appears to be hope on the horizon as the US and China are due to resume trade talks in the coming days.

However, Rajiv Biswas, a chief economist at London-based consultancy, IHS Markit does not see the trade talk yielding much result.

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“Given the wide range of differences between the US and China, it may be difficult to achieve further significant progress in the upcoming round of trade talks,” Biswas said.