Listen: President Trump, China And United States discussed on Marketplace
"Cornish. And I'm Ari Shapiro. The US and China resumed trade talks in Beijing. Today negotiators picked up where President Trump and Chinese president Xi. Jinping left off on December. First the leaders agreed to a ninety day truce in the trade war, a temporary hold on any additional tariffs. If there's no deal. Trump says he'll increase tariffs on a bunch of Chinese goods March first over the weekend. He sounded optimistic China talks are going very well. I spoke to presidency recently. I really believe they wanna make a deal that tariffs have absolutely hurt. China very badly. Wendy Cutler is a former US trade negotiator and now vice president of the Asia Society policy institute. Welcome thank you. What's the goal of the US delegation in Beijing this week? I think their primary goal will be to assess the seriousness of the Chinese delegation in addressing the range of US concerns with respect to China's market those include the lack of market access, high tariffs, high bilateral trade deficit forced technology transfer lacks intellectual property, protection enforcement and other issues as well. China has rolled out in the past few weeks, a number of measures and made a number of announcements about increasing purchases of US soya beans, temporarily reducing the US auto tariff and stepping up IP our enforcement, that's intellectual property Rights Act, and at this meeting, I think the United States will be very interested in hearing more details and more specificity and the timeframes for these announcements that China has made. And I think they'll also be looking for additional concessions by China as well. So we just heard President Trump say he thinks China has a vested interest in cutting a deal because US tariffs are hurting them. Do you see evidence of that? Do you think that's true? Absolutely. I think the tariffs are having an effect on the Chinese economy. But I also think they're affecting the US economy. So I think both sides are coming to the table trying to strike a deal wanting a deal, but I don't think a deal at any cost. And so we'll have to see if they can find common ground. If both sides have the flexibility to move off their positions and to find undergo she added solution. And how absolutely think that March deadline is if if the two sides are close to a deal, do you think it can move? Oh, I think that if something in progress is made in some breakthroughs are made on certain issues that we may see a rollover of the talks and the continuation of the tariff truce while both science continue to negotiate. That's normal. You know, President Trump can be so impulsive he often undermines aids and contradicts advisors. Do you think the parties can negotiate in good faith here? Or is there a risk that Trump might blow up whatever they might agree to as we've seen? There's always a risk as you mentioned. That said I think the fact that ambassador lighthizer is leading these talks is very important. I think the president has a lot of confidence in in thousand or lighthizer Robert lighthizer, the US. Trade Representative correct, particularly given lighthizer success in negotiating the US Mexico Canada agreement, and so I think that lighthizer goes into these talks with a lot of credibility and the backing of the president, and what are the stakes here if the two sides can't reach a deal. The stakes are extremely high. I think at the tariffs go up to twenty five percent on two hundred billion dollars worth of Chinese imports into the. United states. The US is going to be feeling this very quickly across our economy. And I think they'll be quick reverberations in our markets. And I think that the Chinese markets and other corners of their economy will respond as well. And I think overall global economic growth will sink in. So the stakes are very high. That's Wendy Cutler, former acting deputy US trade Representative during the Obama administration now at the Asia"