U.S.-China Trade Negotiations: A Fresh Step Forward
Fresh round of trade negotiations between the U.S. and China over their ongoing commerce disagreement - Fresh talks initiate in the US-China tariff controversy
Hey there! Let's talk about the latest twist in the ongoing trade saga between the USA and China.
In early April, Donald Trump, our man in the White House, slapped a whopping 145% of tariffs on China. In retaliation, Beijing retaliated with a tit-for-tat response of high tariffs. But mid-May saw a glimmer of hope as both nations agreed to significantly lessen these tariffs during talks in Geneva for an initial 90 days. On Thursday, Trump had his inaugural call of his second term with China's President Xi Jinping.
So, what's the latest? It seems these discussions have reached a stage where both sides have come up with a "framework" agreement. However, this deal isn't etched in stone just yet. It's still under review and depends on the approval of our presidents - Trump and Xi Jinping.
Some details have leaked about the agreement, with President Trump hinting at a substantial reduction in tariffs for the U.S., with China's tariffs set at 10%. He also mentioned China's plans to supply us with rare earths and full magnets. If the framework gets the green light, it'll mark a significant stride in enhancing the trade relationship between these two countries.
But don't think this deal is a done deal just yet. You see, this agreement requires the final stamp of approval from both leaders, suggesting that some concessions may not have been fully authorised during the negotiations. Keep your eyes peeled for more updates as this story unfolds!
As for that phone call between our presidents, well, it's not mentioned in the recent search results, but apparently, this framework agreement hinges on their approval for finalization.
[1] Data Source: enrichment insights on the trade negotiations between the U.S. and China, as of the latest developments.
The Commission, given the current trade negotiations between the United States and China, has decided to initiate a new round of policy-and-legislation discussions on the new customs procedure. This development is a part of the ongoing politics and general-news regarding the U.S.-China trade relations.
