Friday to continue high-level trade negotiations. His new title as Chinese President Xi Jinpi
ng’s special envoy indicates the importance and authoritativeness of the talks. As pre
paration for the event, consultations at vice-ministerial-level between China and the US were recovered on Tuesday.
The world’s stock markets surged Monday due to the optimistic prospects on the deals that Beijin
g and Washington are expected to make. US President Donald Trump praised “big progress” in the
trade deal on Twitter. His words further stoked the stock markets of the US, which reached the highest in two m
onths and so increased pressure on the Trump administration to close the deal with China.
Analysts believe that if the two countries couldn’t come to an agreement, and as a result the US imposes more tariffs on Chinese prod
ucts while China responds with fiercer countermeasures, it would be a catastrophic strike to global stock markets.
In terms of avoiding such blows, the Trump administration is probably the most pres
sured. Thus in general, by the end of the trade negotiations, China and the US have become more psychologically equal.