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REPEAT: MNI: No Sino/US Trade Deal Imminent: Govt Researcher

MNI (London)
Repeats Story Initially Transmitted at 10:10 GMT Apr 26/06:10 EST Apr 26
--Unlikely Negotiators Will Reach Agreement in Beijing in Coming Days
     BEIJING (MNI) - It is unlikely a trade deal will be struck by China and the
U.S. in coming days when officials from Washington are scheduled to visit
Beijing for negotiations, a veteran researcher at a government-managed think
tank told MNI in an exclusive interview. 
     "I'm cautious (that an agreement will be reached) and I'm not blindly
optimistic," Mei Xinyu, a researcher at the Chinese Academy of International
Trade and Economic Cooperation under China's Ministry of Commerce, told MNI
Thursday. 
     According to Mei, it's doubtful that the two countries can reach consensus
within a single visit. 
     The former official at the People's Bank of China, a trade expert whose
articles are often published by the People's Daily, the official Communist Party
newspaper, representing the government's voices on trade, noted China will be
"sober" about any outcome from the negotiations.
     Mei's comments contrast with those of U.S. President Donald Trump, who said
he was optimistic the world's two largest economies would reach a trade
agreement. Trump on Tuesday announced that U.S. officials, including Treasury
Secretary Steven Mnuchin, will talk with the Chinese government in Beijing in a
few days.
     The specific time for the trade talks have not been confirmed with final
details still to be finalized, but it's likely to be scheduled after May 1.
     The Trump administration has made efforts to escalate the trade conflict
and it is unlikely it will stop just a little more than one month after the
escalation, said Mei, adding he expects the trade row may continue for some
time.
--TIT-FOR-TAT
     In early March, the U.S. slapped stiff tariffs on imports of Chinese
aluminum and steel. The Trump administration has threatened to impose additional
duties on up to $150 billion Chinese products. 
     China retaliated with increased levies on $3 billion worth U.S. goods and
on U.S. pork and fruits, later threatened with more plans to increase tariffs on
American vehicles, aircrafts, chemicals, and agricultural products such as
soybean. The tit-for-tat actions of the two nations have raised concerns
globally about a trade war between the world's two largest economies.
     "But the U.S. will not get what it wants," Mei said, referring to the $100
billion cut in the trade deficit President Trump demanded of China. "The U.S. is
trying to price itself out of the market."
     While the U.S. investigations into Chinese tech companies were efforts to
increase leverage before officials' visit to China, it's not at all helpful to
the smooth negotiations between the two sides, Mei said.
--NATIONAL SECURITY
     Earlier this month, the Trump administration banned American firms from
selling components such as semiconductors to China's tech company ZTE, and ZTE
shares have been suspended from trading. The U.S. government is also
investigating on national security grounds Chinese tech giant Huawei
Technologies Co Ltd, the third largest mobile phone producer in the world after
Apple and Samsung.
     "China will stick to its principles," Mei stressed, especially the
country's "Made In China 2025" initiative which aims to develop high-end
technology and manufacturing.
     China has already made preparations for all possible outcomes: if the
negotiations end with an agreement, or if they do not. "The U.S. should not
think China is so eager to strike a deal in one time that they can increase
threats on China," Mei said. "If that's the case, the U.S. should stop that
mindset."
     Any negotiations should be based on World Trade Organization principles and
multilateral rules, Mei said. If the U.S. wants to discuss trade issues based on
its domestic laws, "the U.S. can, but it should withdraw from the WTO first,"
Mei stressed.
--MNI Beijing Bureau; +86 (10) 8532-5998; email: iris.ouyang@marketnews.com
--MNI Singapore Bureau; +65 8233 2326; email: Asia-Editor@marketnews.com
--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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