An important American-Chinese meeting
Deputy Prime Minister Chin He Lipeng began talks with the Secretary of the Treasury Scott Bessent in Geneva. Politicians met to Atake the escalating trade war between the United States and China. The Reuters agency writes that this is the first step to “unloading the trade war”. Let us remind you that due to the imposition of duties by Donald Trump and China's answers, duties on products imported from China are 145 percent, while for those from the USA 125 percent. (except for some exceptions). Information about this meeting caused a positive reaction of the markets and growth prices all over the world.
Donald Trump is willing to lower the duties
President The US declared on Friday, May 9 that the United States could reduce duties on Chinese products from 145 to 80 percent “The 80 % tariff for China seems right! ” – wrote Trump on the Truth Social portal. The US President added that he left a decision on this matter to the secretary of treasury Scott Bessent. Earlier he declared interest in negotiations with China and expressed the belief that an agreement would be reached.
The surprising entry of Donald Trump
“China should open their market for the US – it would be very favorable for them! Closed markets no longer work!” – the American president later wrote in social media. Although it is not known what exactly the conversation will apply to, Reuters describes that the American side will want Reduce the commercial deficit with China and convince Beijing to be more involved in global consumption. Beijing, however, may be reluctant to this. The Chinese side depends primarily on the reduction of the duties he introduced Donald Trump. The American president argued that the talks were proposed by the Chinese.
China is fighting hard for their interests
– All negotiations must be based on mutual respect, equality and mutual benefits. If the American side wants to solve problems through dialogue, it must face the negative influence of its unilateral tariffs and respect international trade principles, honesty and justice, as well as rational voices from all sectors – emphasized the spokesman of the Chinese Ministry of Trade. He warned against “all attempts to use dialogue as a cover for coercion or blackmail” – China will not strive to reach any agreement at the expense of sacrificing their rules – he added.
Read also: “Trump's duties don't work? China has fallen export to the USA, but they did it in other places“.
Sources: IAR, ReutersDonald Trump [Truth Social], China Daily