There’s been “a deterioration in trust and communication” between Washington and Beijing, says Frank Lavin, U.S. ambassador to Singapore from 2001 to 2005.
After President Donald Trump’s threat to slap 10% tariff on $300 billion of Chinese goods, it’s unlikely that the U.S. and China will reach a trade deal this year, says Lavin.
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Trump’s latest actions are “a step away from a solution,” said Frank Lavin, U.S. ambassador to Singapore from 2001 to 2005. He added that it’s “unlikely” both sides would reach a deal by the end of this year.
“This tariffs war has gone on for over a year, so you see a deterioration in environment, a deterioration in trust and communication,” Lavin, who’s now chief executive at business consultancy Export Now, told CNBC’s “Street Signs.”