Carlos Barria | Reuters
President Donald Trump (L) and China’s President Xi Jinping walk along the front patio of the Mar-a-Lago estate after a bilateral meeting in Palm Beach, Florida, April 7, 2017.
The 10-point trade plan addresses other industries such as energy, but China watchers say it doesn’t go far enough to tackle President Donald Trump’s goal of job creation.
“China just got a steady supply of liquefied natural gas, which will also reduce the deficit but not really add up to many, if any, U.S. jobs,” said James McGregor, China chairman of APCO Worldwide. “I guess that helps with the administration’s focus on the deficit, but it would be good to see some action on Made in China 2025 and the other very aggressive industrial policies.”
The Trump administration may have scored some political points with Beijing by referencing the importance of the Belt and Road Initiative — an economic plan unveiled by President Xi Jinping and to be discussed in a two-day meeting in Beijing starting Sunday.
“President Trump is a clever man and he is now looking for global investors, including Chinese investors,” Xu Hongcai, an economist at the China Center for International Economic Exchanges, told CNBC. “This will help in U.S. economy in infrastructure, ports, bridges, railways and roads — areas where the U.S. is weak and China has advantages. China can expand its investments in these areas.”
— CNBC’s Daisy Li contributed to this report.