Commerce Secretary Ross Discusses China Trade Deal
Likely won’t happen at the G20 summit this month
On Tuesday, Commerce Secretary Wilbur Ross said that talks between President Trump and Chinese President Xi Jinping at the G20 summit the end of this month probably would not yield a final trade agreement between the two nations.
“The G20 is not a place where anyone makes a definitive deal,” he said. “A trade deal is going to be thousands of pages. At the G20, at most it’ll be a 40,000-foot level, some sort of agreement on a path forward.”
The president is set to head to the summit of world leaders in Osaka, Japan, later this month, during which he is expected to meet with Xi for continued trade negotiations.
Talks between the two countries stalled in May, which prompted the Trump administration to hike tariffs to 25% on $200 billion in Chinese goods. In response, China increased tariffs on $60 billion in U.S. products.
Despite the president’s threat of additional duties on China, Ross expressed optimism the U.S. and Beijing would reach an agreement and urged people to “judge this administration by results” rather than “interim soundbites.”
“Even shooting wars end in negotiations,” he said. “I think eventually this will end in negotiation.”
- For President Trump and his economic and trade advisers as they prepare for meetings at the G20 summit in Japan.
That negotiations on resolving the trade conflict with China would soon yield strong results.