China and the United States have resumed trade talks in France. This discussion is considered important to maintain the stability that the world's two largest economies have painstakingly built over the past year.
Launching China Daily, Monday, March 16, Deputy Prime Minister of China He Lifeng led a Beijing delegation in discussions with US officials from Saturday to Tuesday. This is the sixth round of bilateral economic and trade consultations after a series of meetings from May to October last year had held the two countries from escalating trade conflicts.
A number of analysts consider this negotiation to be important so that Beijing and Washington do not add new obstacles. They emphasize that both parties need to act in good faith and find more common ground.
Senior researcher at the Chinese Academy of International Trade and Economic Cooperation, Zhou Mi, told China Daily that previous negotiations had produced quite a lot of understanding. However, some have not yet been turned into official results. Therefore, according to him, both parties still need to work together to complete unfinished matters, including the unilateral steps of the United States and efforts to strengthen mutual trust.
The pressure remains. The Trump administration is trying to maintain bargaining power after the US Supreme Court last month overturned the president's broad tariff authority. A few days before the negotiations in France began, Washington also launched a Section 301 trade investigation against a number of trading partners, including China.
Cassey Lee from the ISEAS-Yusof Ishak Institute in Singapore assessed that this new round will also determine the direction of US trade policy after the Supreme Court's ruling.
On the other hand, a report by the Federal Reserve Bank of New York in February said that about 90 percent of the economic burden from the tariffs imposed by the Trump administration last year was borne by US consumers and businesses, not foreign exporters.
China Daily also wrote that Beijing sees common interests with Washington as much bigger than just a tariff game. Last week, China reiterated its openness to global businesses, including from the US, through the outline of the 15th Five-Year Plan for the period 2026-2030.
"For Indonesia, the development of trade relations between China and the US should be noted because it can have an impact on global trade, commodity prices, and economic sentiment."
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