Leaders view G20 as chance to ease trade dispute

Jun 28, 2019  | 2 min  | Ep4445

Both China and the U.S. are hoping to avoid extending the trade war to a wider range of products. U.S. farmers continue to take the brunt of the battle even as MFP payments are being calculated.

A G-20 meeting between Presidents Trump and Xi is on the schedule against the backdrop of a Friday purchase by China of 544,000 metric tonnes of U.S. soybeans.

Peter Tubbs has the story. Producer contact: peter.tubbs@iptv.org

The G20 meeting in Tokyo is the stage for the latest battle scene in the ongoing trade struggle between the world’s two largest economies.

President Donald J. Trump: “American success in the digital economy is based on free flow of data, strong privacy and intellectual property protection, access to capital and innovation. The United States is committed to sustaining this approach to digital trade.”

Both China and the United States are seeking to avoid extending the conflict or expanding the battle to a wider range of products. The Trump Administration has threatened an additional $300 billion in tariffs if negotiation demands are not met, which would increase the costs American consumers pay on a myriad of staple goods.

Many in the American business community have been consistently against the current tariff strategy.  U.S. agriculture has taken much of the impact as it remains cut-off from one of its top export markets.

Beijing has demanded that Trump lift all the punitive tariffs imposed on Chinese products. Many in China believe the purpose of the tariffs is to keep their economic development in check.

Chinese President Xi: “"We should build a fair, just, and non-discriminatory market environment. We must enhance the exchanges of technologies, personnel and information and maintain the integrity and vitality of the global industrial chains. We should promote advantage complementation and a win-win cooperation. We cannot develop with our doors shut, nor should we artificially disturb the market."

Even if a significant agreement is reached, U.S. negotiators want to keep a few duties in place to ensure that Beijing fulfills any promises made at the trade table.

For Market to Market, I’m Peter Tubbs

More from this show

Grinnell Mutual Insurance