Economist: China, US may reach balanced trade deal
China and the United States may reach a trade agreement in the near future that is balanced and mutually beneficial, said a prominent Chinese economist, predicting a dual-track tariff policy by the US after July 9.
"Most major trading partners will likely reach some form of agreement or extension with the US after the 90-day freeze on sweeping US tariffs expires on July 9," said Li Daokui, dean of the Institute for Chinese Economic Practice and Thinking at Tsinghua University.
However, the Trump administration may impose high tariffs on a small number of trading partners considered by the US as uncooperative or less important, Li said, adding that this approach appears intended to serve as a warning to other countries.
Li told China Daily on the sidelines of the Global Forum of Finance and Economics as part of 2025 ZGC FORUM on Saturday that China now has a clearer sense of how to respond to tariff threats.
With China's strategic importance in global supply chains, including rare earth, Li said the country is in a better position to put forward its own demands.
"I believe that in the near future, China and the US should be able to reach a new trade agreement that is beneficial to both sides. On the whole, I am relatively optimistic. After this round of negotiations, I believe that the trade agreement is more reasonable and beneficial to both China and the US," he said.
The Global Forum of Finance and Economics as part of 2025 ZGC FORUM was held in Shijingshan district, Beijing, on Saturday. The forum was hosted by the Central University of Finance and Economics and supported by the People's Government of Shijingshan District Beijing Municipality. - China Daily/ANN
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