China and US Enter Second Day of Trade Talks
China and the U.S. have entered the second day of trade talks with hopes to smooth over an uncertainty left behind the potential tariffs on imported goods.
As of Aug. 23, both economies have proposed tariffs on imported goods worth about $16 billion. This will make the total value of Chinese goods affected by the Trump administration $100 billion, from steel to soybeans. It is unlikely both powers will make any "meaningful progress" during trade discussions, according to a recent article in Bloomberg.
Many analysts predict the Trump administration will not lighten up in these trade talks, given how the administration has not softened any hard lines toward China in the recent past. According to Bloomberg, the president also widened the gap in the trade wars when he continued to spread rhetoric about China using "currency manipulation," which has historically been a point of contention between the U.S. and China. The trade team is also putting more pressure on Beijing, as stated in the same Bloomberg piece.
U.S. officials will be meeting with delegations from the E.U. and Japan in Washington, D.C., Aug. 24 to further discuss Chinese trade.
—Christie Citranglo, editorial associate