Can China build on eased trade tensions with US amid Trump’s many distractions?
But while the Trump administration remains in the early stages of formulating its China policy, Beijing should advance a leader-driven process to stabilise bilateral ties, laying the groundwork for a trade agreement ahead of a potential summit.
Sourabh Gupta, a senior policy specialist with the Institute for China-America Studies in Washington, said the framework reached in London was “a genuine de-escalation of trade tensions”.
“At least, that’s how the two sides envision it,” he said, noting that the framework essentially marked a return to last month’s Geneva agreement, with both parties having “a vested interest in getting to ‘yes’ on a trade deal”.
According to Gupta, the outcome of the talks – alongside the first call between Chinese President Xi Jinping and Trump since the latter started his second term – has placed China as a “front-runner” in Washington’s negotiations with major trading partners.
While the London framework represents a temporary truce rather than a comprehensive deal, no other US trading partner has secured a comparable agreement, despite parallel negotiations with the European Union, Japan, South Korea, Canada, India and others.