Optimism is growing that the U.S. and China could wrap up a trade agreement this month. Trade officials from the U.S. and China concluded talks in Beijing Wednesday with another critical round scheduled for next week in the United States.
The Trump administration has appeared to be ready to walk away if an agreement isn’t reached soon. However, Treasury Secretary Steven Mnuchin said on Twitter that he and Trade Representative Robert Lighthizer concluded “productive meetings” this week. The South China Morning Post reports that the U.S. has dropped the demand that China halts alleged instances of commercial cyber theft, to bring an end to the long-running tariff dispute.
A deal at this point between the U.S. and China is expected in Mid-May, with a possible signing of the agreement planned for June. However, an agreement doesn’t mean an end to tariffs. The U.S. is planning on keeping some tariffs on China, and China will likely keep retaliatory tariffs on U.S. agricultural products, according to a Chinese trade expert.