Top trade officials from the two largest economies in the world are scheduled to meet, and US President Donald Trump has suggested that US tariffs on Chinese imports may be lowered. There is no higher you can go. About the additional import levies of up to 145% placed on China since he returned to the White House, he stated, “It’s at 145, so we know it’s coming down.”
Trump made the remarks during a ceremony to announce a tariff agreement with the UK, the first since he imposed high penalties on nations worldwide in April. This weekend’s summit in Switzerland is the most unambiguous indication that the two sides are prepared to defuse a tariff war that has rocked global markets.
It seems like a pretty cordial encounter. Regarding the discussions with China, Trump stated, “They look forward to doing it in an elegant way.” Ahead of the negotiations, China’s vice foreign minister Hua Chunying also declared that Beijing had “full confidence” in its capacity to handle trade disputes with the US.
The BBC was informed by Dan Wang of the political risk consultancy Eurasia Group that officials in Beijing and Washington are “under growing economic pressure.” The recent signals from both sides suggest a transactional de-escalation is on the table”, she stated.
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