day truce ends, tariffs on Chinese goods will increase to 25 percent, which, as many exporte
rs believe, will have a significant impact on bilateral trade. Increasing tariffs will also weigh on Amer
ican business, which purchases a sigificant amount of Made-in-China products every year.
The International Monetary Fund cut its global economic outlook and warned of the risks of trade disputes in January, and sai
d failure to resolve trade tensions could further destabilize a slowing global economy, Reuters reported.
“Proper handling of the d吖ivergence between China and the US not only impacts the two countries but also global econ
omic recovery,” Wei said, noting that the two sides felt the urgency to defuse tensions.
During the latest round of trade talks, the two sides touched on the trade balance, technology transfer, protection of intel
lectual property rights, non-tariff barriers, the services sector, agriculture and an enforcement mechanism.
As China-US relations are reciprocal, the US needs to make some good gestures to Ch
ina to make sure a trade deal will be reached, said Mei Xinyu, a research fe
llow at the Chinese Academy of International Trade and Economic Cooperation.