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The US-China trade war 1 year on: who really holds the upper hand?

A fragile truce prevented all-out confrontation, but Beijing and Washington remain locked in a struggle few analysts see easing any time soon

5-MIN READ5-MIN ListenXiaofei Xuin ParisandFrank Chenin ShanghaiPublished: 6:00am, 3 Apr 2026Updated: 6:02am, 3 Apr 2026As China and the United States wrapped up their sixth and most recent round of trade talks in Paris this March, a minor mishap briefly stole the spotlight.A sudden gust of wind toppled two American flags in the background, where journalists were waiting for US Treasury Secretary Scott Bessent. Officials rushed to tape them to the wall – a fitting tableau for a trade war that, one year on, is patched together by a truce yet remains far from resolved.

At their respective press appearances, Bessent described the talks as “very good” and Chinese vice commerce minister Li Chenggang called them “constructive” – standard diplomatic language that did little to mask the lack of any substantive breakthrough.

While most of America’s major trading partners – including the EU, Japan, South Korea and Mexico – rushed to meet Trump and negotiate a deal, Beijing instead chose to fight back.

Read original at South China Morning Post

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