U.S. good faith crucial for productive trade talks with China

Editor's note: Xin Ping is a commentator on international affairs, writing regularly for Xinhua News Agency, CGTN, Global Times, China Daily, etc. The article reflects the author's views and not necessarily those of CGTN.

Weeks after the tariff truce between China and the U.S. kicked in, container ships have been racing across the Pacific, squeezing time for the summer shopping season. U.S. ports that were void of ships are starting to bustle with trade again. It's also a boon to American customers whose costs of living are to some extent tapering off as tariff cuts dent the rising prices. 

Turning a corner

The Sino-U.S. trade talks concluded in Geneva earlier this month rolled back the bulk of exorbitant tariffs for an initial 90-day period, a silver lining for not only the two countries but also the world.

Roiled by America's tariff spree, the world economy has suffered from a demand shock, nosediving stock markets and fragmented trade flows, painting a gloomy outlook with anemic growth forecasts.

Right after the Geneva talks released a joint statement, optimism built up in global markets, as demonstrated by the Dow Jones Industrial Average surging over 1,000 points.

The agreement also serves as a wake-up call to countries mired in negotiations with America. They may draw lessons from China's approach in facing off the U.S.: buckling under coercion never leads to a fair deal.

Time to talk turkey

Back to the trade truce itself.

The tariff cuts agreed by China and the U.S. are not infinite. Painstaking efforts are still needed from the world's two biggest economies to avoid the worst of a full-blown trade war.

While China slashed tariffs on U.S. goods to 10 percent, the U.S. only cut tariffs on Chinese goods to 30 percent, which still includes the fentanyl-related 20 percent.

This much is clear: China has shown its sincerity for the normalization of trade relations with the U.S., and more importantly, for the well-being of the global trade system.

China's constructive attitude stands in stark contrast to Washington's habitual tactics of scapegoating others, like blaming China for the U.S.' domestic drug problems and applying the so-called "Fentanyl Tariff."

China was the first country in the world to officially regulate fentanyl-related substances in 2019, and has engaged with the U.S. in counternarcotics cooperation such as intelligence sharing, individual cases, and drug testing technology exchanges.

Despite all these goodwill gestures from China, the U.S. keeps asking for more while neglecting its own responsibilities domestically. Its intransigence has stood in the way of more progress in the trade talks with China.

America's sincerity is further questioned by its ensuing moves. Soon after the 90-day pause was unveiled, the U.S. barred other countries (including China) from the development or use of Huawei's Ascend chipsets. Its prohibition of training Chinese AI models with U.S. chips or selling American high-end chips to China further casts doubt on its desire to sit down and talk.

Never give an inch

The global economy needs unimpeded trade and closer cooperation between countries more than ever. China has acted in good faith and never flip-flopped on its trade policy. It is America that goes all out to stymie Chinese businesses and kick them out of the global market.

As the lyrics of a famous Chinese song go: When friends visit, we welcome them with fine wine; when wolves come, we greet them with shotguns. China stands ready for dialogue and cooperation with all countries, but when facing coercion and bullying, it will hit back without giving an inch.

Intentionally or not, the U.S. is again sending mixed signals and has disrupted the hard-earned positive vibes of engaging with China. It's time for Washington to pull back before it's too late.

When meeting the press in Geneva, Li Chenggang, China's international trade representative, cited a Chinese adage: "Good food is worth the wait."

For the U.S. to enjoy delicious food with China, sincerity and goodwill is a must.

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