Following the ongoing trade war between US and China, the former’s President, Donald Trump reported that China may wait until after the elections – November 2020 – for an official deal that will ease the trade war.
As Reuters informs, President Trump commented that he prefers that a deal is agreed between the two countries after the elections, despite China’s aspiration on inking a deal now.
Although the deal under discussions provides new protections for trademarks, copyrights and other intellectual property, trade sources reported to Reuters that it would leave the most challenging technology transfer issues to future talks.
In early 2019, Eurasia ranked the US-China tensions at the second place of the top risks the world would encounter in 2019. Recently, in fear of the US-China trade war and the upcoming tariffs, the US West Coast ports, the Port of Long Beach, Port of Los Angeles, Port of Oakland, Port of Portland, Port of Seattle and Port of Tacoma, alerted Trump of disruption in their operations.
Moreover, Trump’s reports followed as sources in Beijing and Washington informed that although both countries have seen a development, they are still wrangling over whether existing U.S. tariffs will be removed and over specific levels of Chinese purchases of U.S. agricultural products as part of a “phase one” trade deal.
In the meantime, a Washington-based source reported to Reuters that the US side although is willing to remove some tariffs, it asks for additional concessions from Beijing to curb the forced transfer of American technology to Chinese firms.