Pakistan welcomes Xi-Trump trade agreement

BEIJING, June 30 (INP): Pakistan welcomed the agreement reached between Chinese President Xi Jinping and his US counterpart, Donald Trump, at the 14th G20 summit in Osaka.

An official of the Pakistan Embassy here, while commenting on the agreement, said it is in line with the best expectations of international public opinion.

According to the official, the entrepreneurs and investors world have heaved a sign of relief, following the long-awaited agreement, says Chinese media.

Meanwhile, the Chinese media says, agreement has broken the deadlock between China and the US. However, Beijing and Washington still face the arduous task of implementing the consensus reached between the two presidents while overcoming differences during the negotiations.

During the meeting, Xi and Trump clinched a deal to restart economic and trade consultations between their countries on the basis of equality and mutual respect. The US side also agreed that it will not add new tariffs on imports from China.

These deals add new possibilities to end the year-long trade dispute between the world’s two largest economies that has been deadlocked since May.

It is not a big surprise for Xi and Trump to reach such an agreement. The outcome is logical and guided by the principles of trade and economy. It is also in accord with the general expectations of the international community.

Such a result is undoubtedly in the interests of both the Chinese and US societies as it frees people in both countries from the fear of an escalating trade war.

None of the business communities or general public in China and the US want a trade war against each other. In the US, the initiator of the trade war, the call to end the dispute is gaining more and more support. To sum up from all perspectives, the result of the meeting complies with the real expectations and desires of both societies.

Nevertheless, China-US trade tensions have not been completely settled. There is no winner in this current dispute. Public opinion in both countries will likely be critical of an “incomplete victory” against the other.

It is a situation similar to the ice-breaking movement made by China and the US to solve trade issues last December. The US media has a tradition of thriving on criticism. In that case, some US media are expected to argue that Washington has made too many concessions to China.

The Democrats will also take it as an opportunity to mount pressure on the US government. These uncertainties come from the US and are its own internal concerns.

INP/J/AJ