In a Politico piece noting that President Donald Trump walked away from trade talks with China mostly empty-handed, a former financial emissary to the country said negotiations were doomed to failure and were a waste of time.
With Politico stating, "President Donald Trump departed a gathering of world leaders Saturday without striking his long-sought trade deal with China, leaving him with a major unfulfilled campaign promise just as he revs up his reelection bid," the report notes that failure to make any progress could hurt the president in farm states that helped propel him to the Oval Office.
According to the report, "Trump will now need to try to persuade supporters — some of whom have been hurt by rising prices due to his many trade disputes — that not accepting a bad deal with China is actually a win," which led to one Trump booster, Jonathan Felts who worked in the George W. Bush White Hous,e to suggest Trump will at least get credit for trying.
“I don’t think they will see this as a failure. I think they will see this as him fighting,” he explained. "What they see is a man who is doing exactly what he said he would.”
According to David Dollar of the Brookings Institute, who served as an economic and financial emissary to China for the Treasury, no one who has watched the Trump administration should be surprised by the lack of results.
Pointing out "Trump was never going to leave his meeting with Xi this week with a win when the two sides hadn’t been talking for weeks," Dollar suggested, "There hasn't been enough preparation for there to be a really detailed trade deal between China and the United States."
And that is bad news for Trump.
"Exporters are suffering from the retaliatory tariffs from China,” explained Matthew Goodman, who served as director for international economics on the National Security Council staff, "It’s causing some political blowback for the president. His polls in some states that are red states and farm states are not as good as he would like. And so, you know, it’s possible that he has an incentive to do a deal.”
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