US businesses seek pause in escalation of trade tensions

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‍The China International Import Expo, or CIIE, is taking place in Shanghai, and has attracted 3,600 enterprises from more than 130 countries and regions.

While the US did not send an official delegation, US companies did show up. These include some of the biggest US multinational companies like General Electric, Boeing and Qualcomm. They're there to demonstrate their latest technologies and products.

On the sidelines of the CIIE, Tian Wei sat down with Jacob Parker, the vice president of China operations of the US-China Business Council, to discuss recent changes and his outlook on China-US trade relations. “We are in a very important phase of the US-China relationship,” said Mr. Parker.

Chinese President Xi Jinping and US President Trump are going to meet at G20 in order to ensure the two presidents have a substantive outcome from their meeting, and the US would like to see China submit the final list of 142 items and China's negotiating priority.

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Besides that, as the vice president of China operations of the US-China Business Council, Parker said: “We continue to tell the US government that preparing in advance, ensuring that they may offer some opportunities to set up a successful visit between the presidents.”

“I think the best scenario is that at the end of the presidents' meeting, we see some kind of pause in any escalation of new tensions,” said Parker, indicating that US businesses are seeking a pause in an escalation of trade tensions and China is still a top priority among US businesses.

Moreover, Parker considers the phone call between the Chinese and US presidents a few days ago to be a positive signal because it means that Trump himself is now engaged in the US-China relationship in a way that is different from what he has been experienced in the last 6 months.

“Elevating the dialogue from the minister, vice premier level to the presidential level, ensures there is no one who can overturn any decision that's made between the two presidents. And that ensures that perhaps we will see a more lasting agreement,” added Parker.

World Insight with Tian Wei is a 45-minute global affairs and debate show on CGTN. It airs weekdays at 10:15 p.m. BJT (1415GMT), with rebroadcasts at 4:15 a.m. BJT (2015GMT).

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