US and China start talks to terminate the trade war
US and China start talks to terminate the trade war
in Geneva, Switzerland, the trade talks between the United States and China started, Chinese state media reported on Saturday. This could be a first sign of relaxation in the trade war, which was triggered by President Donald Trump's high tariffs.
conversations under high observation
Vice Prime Minister He Lifeng will lead the negotiations on the Chinese side, while US Finance Minister Scott Bessent acts as the main representative of the United States, as the state broadcaster CCTV in a short report announced.
expectations of the negotiations
Bessent already emphasized this week that the talks are not to be expected to have a comprehensive trade agreement. However, he admitted that this is an important step in the negotiations.
one -sided tariffs and their effects
The United States has raised a minimum of 145% to most Chinese imports, while China in turn reacted to most US imports with an inch of 125%. As a result, the trade between the two sides , as logistics experts report.
economic assessments
Even a reduction in the customs rate by half could not be sufficient to significantly change the trading levels. Economists have explained that 50% is the decisive limit for returning to somewhat more normal business between the two countries.
Trump's announcement
On Friday, hours after the US trade representatives left to Switzerland, Trump brought the opportunity to reduce the tariffs to Chinese goods to 80% while at the same time demanding that China "open its market for the USA".
This is a developing story that is continuously updated.
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