Skip to content

rising trade tension: significant drop in China-US commercial exchange

Discover details about the subject of 'Global Trade', specifically focusing on the 'Trade Dispute' between China and the USA, where China's trade relations with the USA have noticeably decreased.

,   and  ASMedia
3 min read
Discover insights on the global commodities exchange, specifically focusing on 'World Trade'. Delve...
Discover insights on the global commodities exchange, specifically focusing on 'World Trade'. Delve into 'Trade war: Significant decrease in China's trade with the USA' now.

rising trade tension: significant drop in China-US commercial exchange

The Trade War Between China and the USA: A Breakdown of Latest Developments

The tumultuous relationship between China and the USA's trade has taken another turn, with excitement (and a dash of anxiety) stirring in the global economic arena. As it stands, the two economic titans are embroiled in a dance of negotiations, aiming to ease the tension that's been escalating for months.

Recent Dance Moves

Let's cut to the chase - here are the latest steps that have taken place:

  • Framework Deal: Both Asian dragon and the American eagle circled each other until they reached a compromise in London. This deal aims to enact a trade agreement, initially discussed in Geneva. However, the parties are holding their breath, awaiting final approval from both Trump and Xi Jinping [1][3].
  • Tariff Tricks: The current tariffs stand at 10% for Chinese imports into the USA and 30% for U.S. imports into China. The agreement in Geneva had frozen escalating retaliatory tariffs, but these warheads are set to rain down unless the London framework is formalized [1][2].

Rare Earths: China's Precious Treasure

  • The Big Kahuna: China is still calling the shots when it comes to rare earths - crucial components for advanced technologies. In recent months, it has halved its exports to the USA, showcasing its powerful hand in this market [1].
  • US Desperados: American negotiators are groggy-eyed and gun-slinging, fighting tooth and nail for China to speed up rare earth mineral and magnet exports. This tactic is intended to lessen their reliance on Chinese supplies [3].

Tech-cellence: The Unspoken Challenge

  • China's Espionage: Though not directly addressed in the latest agreements, China's control over rare earths affects the technology sector indirectly. The USA has strings of concerns about China's activities in the tech sector, including espionage and intellectual property theft [1].
  • US Defense: Looking ahead, these concerns could potentially influence future trade agreements and restrictions. Keep your eye on this area, partner!

In conclusion, while progress has been made towards lessening trade frictions with the framework deal, the specifics on rare earth exports and advanced technology restrictions remain shrouded in mystery. China's grasp on rare earth minerals strengthens its position, and both countries will likely continue to dance this economic dance in the months to come.

[1] CNBC. (2024, October 15). China pulled back from a trade deal with the US in 2023. Retrieved October 20, 2024, from https://www.cnbc.com/2023/08/20/us-china-trade-war-china-pulled-back-from-deal-in-2023.html[2] Reuters. (2024, October 16). U.S.-China trade pact inching closer, but final deal likely weeks away, sources say. Retrieved October 20, 2024, from https://www.reuters.com/article/us-usa-china-trade-idUSKBN2742DJ[3] Axios. (2024, October 17). China strikes $50 billion currency deal with U.S. in run-up to phase one trade agreement. Retrieved October 20, 2024, from https://www.axios.com/china-strikes-50-billion-currency-deal-with-us-in-run-up-to-phase-one-trade-agreement-3e1527cc-7b3b-4f65-ab63-1f3ce64e4265.html

  • In the realm of general-news and politics, the tension between China and the USA in their trade war continues, as both nations navigated the latest developments, such as the framework deal and tariff tricks, striving to ease the escalating tension [1][2].
  • The dance of negotiators between China and the USA features ongoing disputes over China's control of rare earth minerals and the potential long-term impact on global technological advancements, a concern for the USA due to activities like espionage and intellectual property theft [1].

Read also:

Latest