'We’re talking about a couple of trillion dollars of economic activity and a couple of million US jobs’ worth of potential hurt,” says Doug Barry, spokesman for the US-China Business Council.
Just one day prior, Secretary of State Mike Pompeo repeated the assertion that Huawei poses a security risk to the nation — even as the president suggested that restoring Huawei’s access to American technology could be part of a broader trade deal.
In response, China pointed out that it has exports on which U.S. companies depend, as well. When Xi made a public visit this week to facilities that specialize in the production of rare-earth minerals, he was sending a clear, unspoken message, Kirkegaard said. “If you don’t want to sell us your tech or your chips, maybe we don’t want to sell the rare earths you need to make those chips,” he said. “They’re signaling that they can play dirty, as well.
Williams said the two countries probably each could go it alone, but it would damage both economies. “China and the U.S. don’t need each other but they can each inflict pain on the other, so the question is how much each is willing to withstand,” he said, expressing a more negative view that is being adopted by a growing number of observers. “Unless President Trump makes another sudden shift in his approach, a deal now looks very unlikely,” he said.
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