US, China buy time with trade truce as pressure builds
Analysts feel Beijing has largely not lived up to earlier commitments, with many US officials voicing their profound frustration with the Chinese.
US President Donald Trump and Chinese counterpart Xi Jinping concluded a summit in Washington on Friday, agreeing to extend their trade truce for another five weeks. While the leaders aim to buy time for their nations, analysts warn that time is running out for the world's two largest economies to resolve their strategic rivalry.
Daniel Russel of the Asia Society Policy Institute noted that while both sides may desire stability, tangible outcomes are needed for the truce to last. Beijing has largely failed to meet earlier commitments, according to US officials. The truce, initially signed in South Korea last year, required China to purchase more US soybeans and halt rare earths restrictions.
However, analysts doubt this extension will be sustainable, as China is only meeting "barely enough to maintain the agreement." US tariff threats and excess capacity concerns in Chinese industry are expected to be discussed at upcoming meetings between US and Chinese officials.
Written by urgent.news from Free Malaysia Today's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- US, China buy time with trade truce as pressure builds freemalaysiatoday.com
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