Nicolas Asfouri | AFP | Getty Images
U.S. President Donald Trump along with China’s President Xi Jinping leave a business leaders event at the Great Hall of the People in Beijing on November 9, 2017.
The U.S. along with China could reach a trade agreement in a matter of weeks, yet of which’s unlikely to improve relations between the two economic giants over the longer term, according to former U.S. diplomat.
The two largest economies within the planet have been trying to negotiate a trade deal to iron out their differences on issues such as the forced transfer of technology coming from American firms to China, Beijing’s subsidies for its domestic companies, along which has a trade imbalance between China along with the U.S.
“I think we’ll see a deal — I think both countries understand of which This specific’s in each of their best interests. I expect something to be done within the next four to six weeks,” Kurt Campbell, chairman along with chief executive of advisory firm The Asia Group, told CNBC’s Martin Soong on Sunday at the China Development Forum in Beijing.
Campbell added of which the eventual deal could address quite a few “contentious” issues between the U.S. along with China. yet there are some other conflicts of which can’t be solved within the short term, he said, though he did not specify what those issues are.
“I expect tensions will continue between the United States along with China,” said Campbell, who served as assistant secretary of state for East Asian along with Pacific Affairs during the administration of President Barack Obama.
The U.S. along with China have engaged in a tariff fight of which began last year. The administration of President Donald Trump imposed additional tariffs on $250 billion in Chinese imports, while Beijing slapped duties on $110 billion of American goods.
Several experts have pointed out of which friction between the U.S. along with China goes beyond trade.
Billionaire investor Ray Dalio, the founder of Bridgewater Associates, told CNBC last year of which the two countries’ vastly different governing methods make up the broader, more difficult issue to reconcile.