Trump’s visit expected to smooth China-US trade relations

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Foreign Direct Investment (FDI) between China and the United States surpassed 60 billion US dollars in 2016, more than in any other year in the history, according to the Rhodium Group and the National Committee on US-China Relations.

The 2017 China Business Report of the American Chamber of Commerce in Shanghai, however, shows that despite improvements in revenue and profitability, member companies are demonstrating a higher level of caution about investment in China.

Just last week the US Commerce Department imposed anti-dumping duties on Chinese aluminum foil imports.

US President Donald Trump signs a memorandum on addressing China's laws, policies, practices, and actions related to intellectual property, innovation, and technology at the White House on August 14. /VCG Photo

And some US business persons believe that Chinese market is still not open enough.

“We feel many restrictions that have been in place for very long time, whether in financial services or health care, agricultural products, equity caps that exist, difficulties to register products particular in health care, these things aren't moving fast enough,” said Kenneth Jarrett, President of Amcham Shanghai .

But as US President Donald Trump’s visit approaches, Richard Bolte, CEO of US logistics and transportation company BDP International, is rather positive about what leaders from both sides will do to bilateral trade relations.

A textile company in China’s Zhejiang Province is busy with suddenly boosted orders of American national flags as US President Donald Trump’s trip to China approaches. /VCG Photo

“Mr.Trump has a very strong personality but he does have a strong history of warming-up so to speak after face-to-face meeting. As a business person, I'm always optimistic that our politicians can create the right atmosphere and policies that will underpin more robust global trade,” said Bolte.

Jarrett also expects that a business delegation’s travelling with the US president may help rebalance the trade relations between the two nations.

CGTN Photo

In fact, last week, China's Commerce Ministry said the country will lower tariffs and step up bank financing to support more imports and narrow its massive trade surplus.

(CGTN's Yang Jing also contributed to this story)