Why a meaningful US-China trade deal could be hard to reach
WASHINGTON — The world's two largest economies are locked in negotiations that may soon produce a deal to suspend their trade war.
Yet despite signals from Chinese and U.S. officials that some truce could be forthcoming, there are few signs of any truly transformed trade relationship. Beijing's longstanding policy of subsidizing its own businesses and charges that it illicitly obtains U.S. technology remain key obstacles to any meaningful U.S.-China trade deal.
In the meantime, the government said Wednesday that the trade deficit in goods with China — the gap between the value of the U.S. products China buys and the higher value of what it sells to the U.S. — hit a record $419.2 billion last year.
A senior Trump administration official asserted this week that progress had been made during trade talks over the past two weeks, only to acknowledge that the eventual outcome remains a mystery and that China faced no timetable for responding to the U.S. priorities. The official insisted on anonymity to discuss private conversations.
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