USA and China: Progress in Trade Talks, but Still Much to Do

The White House economic advisor, Kevin Hassett, recently emphasized that the USA has made significant progress in trade talks with China in recent months. However, considerable work remains to fully conclude the complex negotiations. President Donald Trump and his Chinese counterpart Xi Jinping are discussing a variety of issues, including China's import of Russian oil exports. According to Washington, these purchases contribute to tensions in the Russia-Ukraine conflict. The USA has highlighted both China and India as factors in this conflict. US Trade Representative Jamieson Greer and Treasury Secretary Scott Bessent are in almost daily discussions with their Chinese counterparts to resolve the numerous outstanding issues. Hassett expressed optimism and stated that enormous progress has been made compared to a few months ago. A particular concern in the negotiations is the halt of Chinese imports of American agricultural products. Nonetheless, Hassett remains confident and announced that further progress can be expected by Thanksgiving.