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link : With President Trump Gone In January, China Wants To Renegotiate Its Trade Deal With The Biden Administration
With President Trump Gone In January, China Wants To Renegotiate Its Trade Deal With The Biden Administration
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August 18, 2011: US Vice President Joe Biden, left, listens to the US national anthem with Chinese Vice President Xi Jinping at a welcome ceremony in Beijing. Biden met with the man expected to be named as successor to Hu Jintao. Nine years on, Biden's opinion of Xi has plunged, so if he does become president and Beijing wants to restore good ties with the US, one way to do that would be to make a credible start on its vow to tackle climate change, as that is an issue dear to Biden's heart. Photo: Peter Parks / AFP.
* Donald Trump’s phase one trade deal seen as ‘twisted’ in Beijing, leading insiders to predict an attempt at renegotiation under Joe Biden
* But US trade experts say it is unlikely Biden can do anything that could be construed as being soft on China
Joe Biden’s US election victory will encourage China to try and renegotiate Donald Trump’s trade deal, viewed in Beijing as being “twisted” in Washington’s favour, according to advisers to the Chinese government.
The phase one trade deal was hammered out after months of painful negotiations and 18 months of trade war tariffs piling up on both sides. It saw China commit to buying US$200 billion in additional US goods on top of 2017 levels, but stopped short of forcing major structural changes to China’s economic model.
Even so, advisers see the deal as being unrealistic for China to implement, and view Biden as a more “rational and multilaterally minded” leader than Trump – despite former US officials thinking there is virtually no chance of Biden giving China a “softer” deal.
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WNU Editor: During the campaign Joe Biden was promising to bring U.S. - China relations back to the point before President Trump was elected in 2016. China took note, and this is it's condition (among others) for better relations. But China is not alone. It has allies in the U.S. who want this. In the coming months expect everyone from the NBA, Hollywood, tech companies, and Wall Street to try and make this happen.
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