Although worried
about the prospect of a trade war, American businesses operating in
China nonetheless want President Donald Trump to wring some concessions
on market access from China's leader Xi Jingping when the two meet this
week.
Trump warned
in a tweet last week the meetings at his Mar-a-Lago resort on Thursday
and Friday will be "very difficult" and "American companies must be
prepared to look at other alternatives."
Trump has said he wants U.S. companies to stop investing in China and instead create jobs at home. He has also accused China of manipulating its currency to boost exports.
Critics within U.S. industry have accused China of unfair government subsidies to its companies, and of flooding the U.S. market with cheap products from steel to solar panels, while restricting foreign investment over vast swathes of the world's second-biggest economy.
But they also worry Trump's policies on China are not entirely clear, with his trade team still not in place, and may be subject to a 'grand bargain' involving other issues such as North Korea.
Trump is set to enter the meeting without several key advisors, including his pick for trade negotiator, Robert Lighthizer who has yet to be confirmed by Congress. His nominee as ambassador to China, Iowa Governor Terry Branstad, has also yet to be confirmed, while several posts in the U.S. State Department that formulate Asia policy remain unfilled.
"With this in mind, it is hard to imagine that there will be much in the way of concrete accomplishments at this summit, or even that there has been any significant interagency discussion on strategy leading up to it," said Randal Phillips, Mintz Group's Beijing-based managing partner for Asia and the former chief CIA representative in China.
Trump has said he wants U.S. companies to stop investing in China and instead create jobs at home. He has also accused China of manipulating its currency to boost exports.
Critics within U.S. industry have accused China of unfair government subsidies to its companies, and of flooding the U.S. market with cheap products from steel to solar panels, while restricting foreign investment over vast swathes of the world's second-biggest economy.
But they also worry Trump's policies on China are not entirely clear, with his trade team still not in place, and may be subject to a 'grand bargain' involving other issues such as North Korea.
Trump is set to enter the meeting without several key advisors, including his pick for trade negotiator, Robert Lighthizer who has yet to be confirmed by Congress. His nominee as ambassador to China, Iowa Governor Terry Branstad, has also yet to be confirmed, while several posts in the U.S. State Department that formulate Asia policy remain unfilled.
"With this in mind, it is hard to imagine that there will be much in the way of concrete accomplishments at this summit, or even that there has been any significant interagency discussion on strategy leading up to it," said Randal Phillips, Mintz Group's Beijing-based managing partner for Asia and the former chief CIA representative in China.
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