50-50 chance of a trade deal at G20 as Trump blows hot and cold, says former US ambassador to China
Last Friday, the U.S. more than doubled tariffs on $200 billion of Chinese goods in the midst of ongoing negotiations, promptingBeijing announced Monday that more than 5,000 American products could see duties rise as high as 25% from June 1.
This very public approach has put both countries in a very difficult position because it's very hard to back down now.in 2020 will also be a factor in the ongoing trade negotiations. "I frankly wonder, it's very possible that President Trump will strike a deal before 2020. That will especially happen if the stock market is going south because he likes a solid stock market," said Baucus, who is also a former U.S. democratic senator from Montana.
But Trump is caught "in a bit of a box" as "he doesn't want to appear weak," said Baucus. "If he appears weak, he will be criticized by the democratic presidential nominee and other democrats, so he's in a bit of a box.""This very public approach has put both countries in a very difficult position because it's very hard to back down now," said Baucus.
"China wants to do business with the United States. China wants a deal, but China wants a deal that China can live with," said Baucus.
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