Last updated on July 22nd, 2019
Ridden by perplexities of forged technology transfers and claims of China’s espionage on the US, headway for the US-China trade war is still far from reaching its final consensus. The war, which is battered by imposition of tariffs, witnessed nothing significant at G20 Summit in Japan.
Circling around the hymns of progress, the meetup led to an agreement on ceasefire and negotiations via talks. However, the move failed to provide any assurance of real development in the coming months.
Although Washington agreed to postpone putting of additional tariffs on Chinese goods and President Donald Trump hinted at putting off decisions on Huawei, nothing evident can still be drawn at this stage.
Looking at Huawei, it is already known that the US believes that Chinese telecom network poses a national security risk to the nation. The case is especially because of the firm’s close ties to the Chinese government.
“Agreement on 90 percent of the issues has proved not to be enough, and with the remaining 10 percent where their fundamental differences reside, it is not going to be easy to reach a 100-percent consensus, since at this point, they remain widely apart even on the conceptual level,” said China Daily -an English language newspaper.
Considering the level of conundrum at such high percentage, it is only wise not to comment on the notion of progress. Yet, China is still confident and has portrayed that as long as US-China follow the terms reached upon by their leaders, the conflict can be resolved.
At the summit, Wang Xiaolong, the Foreign Ministry’s special envoy of G20 affairs and head of the ministry’s Department of International Economic Affairs, said that if the US does what Trump has lately showcased in his statement, then China would welcome the decision.
“To put restrictions in areas that go beyond technology and economic factors will definitely lead to a lose-lose situation. So if the U.S. side can do what it says then we will certainly welcome that,” Wang told reporters.
The nexus of the argument has certainly changed from the US majorly dominating the trade war. In fact, the situation now contemplates to arise a number of possibilities, including a paramount loss to the US from its decision to raise the tariff percentage on Chinese goods.