U.S. negotiators head to China on Tuesday to try to hammer out details to end th...
BEIJING - U.S. negotiators head to China on Tuesday to try to hammer out details to end the two countries’ trade war, including the shape of an enforcement mechanism, the success or failure of which could set the trajectory of ties for years to come.
Both sides have cited progress on issues including intellectual property and forced technology transfer to help end a conflict marked by tit-for-tat tariffs that have cost the world’s two largest economies billions of dollars, disrupted supply chains and rattled financial markets. “An effective enforcement mechanism will define the deal,” Tim Stratford, chairman of the American Chamber of Commerce in China , told Reuters.
Earlier this month, Mnuchin said the two sides had agreed on establishing new “enforcement offices” to police an agreement, although he did not give specifics. On Sunday, he told the New York Times talks are entering a critical point: “We’re getting into the final laps.”U.S. President Donald Trump said on April 4 that the two sides could have a deal worked out in about four weeks.
Lighthizer has suggested that some form of the tariffs Trump imposed last year on Chinese goods as leverage in the dispute should hang over a deal to ensure compliance.For one, it would mean continued uncertainty for already trade war-weary businesses and markets. Because of this, one American trade consultant said: “It takes great imagination and optimism to think we can come up with an effective enforcement mechanism beyond the short term.”Another source with knowledge of the trade talks argued that if the United States triggered the mechanism, Beijing would be unlikely to “come back to the table with this president”, referring to Trump.
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