US-China trade negotiations are set to resume in Shanghai on Tuesday but expectations are rather low. US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin will meet China’s team again for a two day meeting. Trump indicated on Friday that China may want to drag on till after 2020 election in the US. He told reported at that White House China would probably said “let’s wait and see if one of these people who gives the United States away, let’s see if one of them could get elected.”
White House economic adviser Larry Kudlow also said on Friday he “wouldn’t expect any grand deal” at this week’s meeting. Instead, the team would just try to “reset the stage”. Though, he added, “we strongly expect the Chinese to follow through (on) goodwill and just helping the trade balance with large-scale purchases of US agriculture products and services.”
Separately, China’s state media CCTV said on Sunday, citing the National Development and Reform Commission and Ministry of Commerce, that the country has already made enquiries to US suppliers for soybeans, cotton, pork, sorghum and other agricultural products since July 19. CCTV reported “as long as the American agricultural products are reasonably priced and of good quality, it is expected that there will be new purchase.” though, it also urged that US should “take concrete measures to implement its relevant commitments and create favorable conditions for bilateral economic and trade cooperation”.
