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MNI: Tariff Cuts Hard, Despite Refreshed China-U.S. Dialogue

MNI (Singapore)
MNI (Beijing)

The resumption of regular economic dialogue between China and the U.S. could help prevent decoupling, but tariff reduction remains difficult.

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The resumption of regular economic China-U.S. dialogue via the creation of working groups shows both countries want to avoid a costly decoupling, but any substantial breakthrough – such as tariff reduction – remains a distant prospect, policy advisors and market analysts told MNI.

“Having a communication mechanism can resolve some misjudgments between the two countries, but it requires arduous effort should there be any substantial breakthrough,” said an advisor from a government-backed think tank asking for anonymity.

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The resumption of regular economic China-U.S. dialogue via the creation of working groups shows both countries want to avoid a costly decoupling, but any substantial breakthrough – such as tariff reduction – remains a distant prospect, policy advisors and market analysts told MNI.

“Having a communication mechanism can resolve some misjudgments between the two countries, but it requires arduous effort should there be any substantial breakthrough,” said an advisor from a government-backed think tank asking for anonymity.

Keep reading...Show less