Trump Refuses Tariff Cuts, China Talks in Switzerland
President Trump declines to reduce tariffs on Chinese goods, as planned talks between US and Chinese officials aim towards trade de-escalation. This move comes after escalating tensions and imposition of high duties on imports.
President Trump has announced that he will not reduce tariffs on Chinese goods to initiate negotiations, as China and the US plan senior-level trade talks in Switzerland. The talks are seen as a step towards de-escalating the ongoing trade war between the two countries. The US Treasury Secretary and Trade Representative are set to meet with China's top economic official on Saturday in Switzerland, marking the start of potential negotiations.
Beijing, which had previously refused to engage in negotiations unless the US withdrew its tariffs, now seems open to talks following signals from the US side. This development comes after weeks of heightened tensions, with duties on imports soaring beyond 100%, leading to a virtual trade embargo.
The impasse and Trump's recent imposition of sweeping duties on numerous countries have disrupted supply chains, roiled financial markets, and raised fears of a global economic downturn. The planned talks are aimed at de-escalation, as both countries seek strategies to ease tensions and resolve the trade conflict.
President Trump emphasized the need for a nuanced, bipartisan, and strategic approach in dealing with China, highlighting the importance of developing a productive working relationship with Chinese leaders. The personal ties between Trump and the newly sworn-in US Ambassador to China, David Perdue, could play a significant role in fostering dialogue and understanding between the two nations.
This article is based on an automated news agency feed and has not been altered for content.