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- US and China will not likely reach a trade deal this year - former ambassador
US and China will not likely reach a trade deal this year - former ambassador
The latest escalation in tensions between the U.S. and China has reduced the chances that both sides could reach a trade deal this year, a former American diplomat said.
Trump’s latest actions are “a step away from a solution,” said Frank Lavin, U.S. ambassador to Singapore from 2001 to 2005. He added that it’s “unlikely” both sides would reach a deal by the end of this year.
“This tariffs war has gone on for over a year, so you see a deterioration in environment, a deterioration in trust and communication,” Lavin, who’s now chief executive at business consultancy Export Now, told.
Despite Trump’s tariff threat, some analysts have predicted that the president still wants a deal with China — because that could help him win a second a term in the White House. Many analysts have said a large part of Trump’s re-election chances hinge on the strength of the U.S. economy.
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