China wants to end the trade war with the U.S., according to its ambassador to the United States. In an exclusive interview with National Public Radio this week, China’s ambassador to the United States says his country is “ready to make a deal” if they could find a trustworthy partner in Washington. The ambassador accused the United States of constantly shifting positions and passing up opportunities for agreement.
The U.S. is engaged in a trade war with China, and the goal appears to be to suppress trade between China and other trading partners, along with implications between U.S.-China trade. The ambassador said China is “ready to make some compromise,” and even “willing to take steps to reduce the U.S. trade deficit with China.” The Trump administration maintains that China is not as accommodating as it is trying to imply.
Chinese investment in the United States has dropped 92 percent so far this year. Analysts say the trade war may be hindering China’s economy. A Chinese investment analyst told the South China Morning Post that “China’s economy is slowing, its currency weakening, and the trade regime is faltering.” A market researcher told the publication that Trump’s trade policies and China’s curb of capital outflow “cast a shadow” on the relationship between the two nations.
U.S.-based JP Morgan recently downgraded China’s stocks and predicted a “full-blown” trade war with the United States. Rumors are circling now that the trade war, however, may be starting some social unrest in China, which would prompt the nation to engage with the United States. The trade war is shifting agricultural markets and where China is sourcing commodities such as soybeans. However, the low price of U.S. commodities is attracting other export markets.
Source: NAFB News Service