It’s possible that US President Donald Trump hailed the most recent trade agreement between the US and China as a victory for the US. However, the leaders of China have left with a boost in confidence.
Although the accord’s specifics are still being kept under wraps, it seems to substantially restore a prior agreement that was struck in May but quickly deteriorated as animosity and mistrust between the two parties increased. Negotiators in London agreed upon the agreement last week. The most important lesson China has learnt this time is the strength of its influence on the US and how it might take advantage of it in the coming months.
China believes it has more negotiating leverage than it had anticipated, according to Liu Dongshu, an assistant professor at the City University of Hong Kong who specialises in Chinese politics. Beijing has also concluded that “Trump is not as tough as he appeared to be” after recent months of trade disputes.
Trump tweeted on social media that the “deal with China is done” and explained how the US will have access to China’s rare earth minerals while keeping high tariffs. China’s official pronouncements on the most recent accord have been far more subdued.
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