In the latest round of trade talks between the U.S. and China, analysts note a shift in perspective, recognizing that China's economy has proven more robust than previously assumed. Despite significant tariffs, China's ability to withstand pressures and its control over critical exports, like rare earths, give it a strategic advantage. As the discussions continue in London, the U.S. is beginning to accept that China was better prepared for the trade conflict than earlier believed, altering the anticipated trajectory of negotiations.
"Back in February, the mainstream narrative in the U.S. was, 'Oh, the Chinese economy is bad, so if the U.S. is going to use tariff stick, China would have no choice but to surrender,'" said Wu Xinbo, dean of the Institute of International Studies at Fudan University in Shanghai.
Now, Washington appears to be acknowledging that 'China was better prepared for the trade war in the first stage,' Wu said.
Underscoring the sense that Beijing just has to wait out the U.S. president, some state-affiliated media outlets and Chinese commentators have seized upon a new phrase being applied to Trump - "TACO," or "Trump Always Chickens Out."
Trump said Monday after the first day of talks, "China's not easy, but I'm only getting good reports."
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