Trump declares a comprehensive reboot in US-China relations
Get ready for some serious economic chitchat! The US and China, two of the world's mightiest economic powerhouses, are in it deep with their trade war, but they're giving it another go and taking their conversation to Geneva. The talks are ongoing, with round two happening on Sunday, and Trump's already throwing around buzzwords like "complete do-over" and "amazing progress."
So, what's going down at this millennial meet-up? Well, things are friendly yet professional, according to Trump's Truth Social post. The discussions went on for a whopping eight hours! They've touched on plenty of topics, including how the US could benefit from greater access to China's markets. Trump's all about hoping that China opens its doors wider to American companies, and voila, "Big progress!!!" he exclaims.
You might ask, "What about those steep tariffs?" Well, they're definitely a hot topic, peaking at an eye-popping 145% on Chinese goods since Trump took office. China responded with a smack of their own, imposing tariffs topping out at 125% on US goods. Both nations have been trolling each other, pretending to hold all the cards, declining to be the first one to make a move towards the other side.
But Trump isn't playing coy anymore. He's thrown down a poker face and hinted at a tariff reduction to a more manageable 80%. Remember, no one's expecting an agreement to materialize just yet. They're just trying to find common ground, setting the stage for future discussions, and equal footing is a must. China underscored that talks can only happen under fair conditions. After all, the US needs to correct its past mistakes.
So here's to a new chapter in the US-China trade saga! Let's see where this Geneva get-together takes us. Stay tuned for more updates as the talks continue and, fingers crossed, progress unfolds!
Sources:1. Reuters2. CNBC3. BBC
The Commission has also been consulted on the draft budget, considering the ongoing policy-and-legislation surrounding the US-China trade agreement. Sunday's tariff discussion, part of the second round of trade talks in Geneva, saw Trump agreeing to potentially reduce tariffs from 145% to a more manageable 80%. WhatsApp notifications could soon buzz with updates on the state of the General News as trade discussions continue, aimed at achieving equal footing and fair conditions. Moreover, the agreement could pave the way for American companies to more easily foot the bill for access to China's markets.
