Sean Stein is president of the US-China Enterprise Council (USCBC), a Washington-based non-profit organisation that promotes commerce between the world’s two largest economies. The council represents greater than 270 American corporations doing enterprise in China.
He most not too long ago served as board chair of the American Chamber of Commerce in China and is chair emeritus of the American Chamber of Commerce in Shanghai. Earlier than that, he served for almost three a long time as a diplomat, together with as US Consul Basic in Shenyang and Shanghai.
That’s appropriate – it’s nearly inevitable that the 90-day pause will get prolonged, notably because the two sides have introduced that there’s a framework deal. The choice is unthinkable. It might imply going again to pre-Geneva, triple-digit tariffs, one thing neither facet needs.
Wanting on the potential for a broader deal, now that China has added two fentanyl precursors to its listing of restricted chemical substances, there may be some expectation that the US could decrease the 20 per cent tariff it put in place because of fentanyl. When that occurs, China is predicted to decrease a few of its retaliatory tariffs. This could possibly be a path again towards a extra regular commerce relationship, however up to now, we have now not seen the US take steps to reciprocate China’s gesture.
What the enterprise group is anxious about is that nearly all of the dialogue between the nations has been about tariffs.
