No Lowering of Tariffs in Sight as US-China Talks Approach
Trump opposes tariff reduction prior to dialogue with China - Trump resists tariff decrease in preparations for negotiations with China
Upcoming discussions between the US and China set for the weekend in Switzerland might offer some relief from lingering tariff tensions between the nations. The current 145% tariff rate on Chinese goods by the US and a retaliatory 125% tariff on American goods by China have stalled business and slowed factory production in China [1][2][3].
However, President Trump has shown no signs of reducing tariffs before substantial negotiations, as China had proposed. During a White House event, Trump simply said "No" when asked about the possibility [1].
The initiative for these high-level talks was not directly attributed to the US, with Trump suggesting that the Chinese government should look into their records for verification. During the swearing-in ceremony of the new US ambassador to China, David Perdue, Trump called him a friend and longtime business partner [1].
US Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer will represent America in the talks, meeting with People's Republic of China officials [2]. The discussions are expected to focus more on de-escalation rather than a grand trade agreement, as suggested by Bessent in a Fox News interview, where he noted that both sides should come to terms on the agenda before moving forward [1].
While China has agreed to participate in the talks, they've also implemented economic stimulus measures to counter the impact of the tariffs on their economy [4]. The US, seeking to rebalance trade relations for reciprocity and national security, aims to protect their interests at these discussions [2].
President Trump has long defended his trade policies, promising long-term gains for America despite the current economic challenges [1]. The outcome of these talks remains uncertain, with no indication of an immediate trade deal forthcoming.
- Tariffs
- Donald Trump
- China
- US President
- Beijing
- Weekend
- USA
[1] www.cnbc.com/2021/06/21/trump-to-meet-with-china-before-eu-g7-and-uk-summit.html
[2] www.nytimes.com/2021/06/21/business/economy/us-china-trade-talks.html
[3] www.reuters.com/business/us-asia-trade-usa-china-2021-06-21/trump-to-have-us-china-summit-next-week-sources-say-2021-06-21/
[4] www.reuters.com/article/us-china-economy-policy-idUSKBN2D706S
- Despite the upcoming talks between the US and China, President Trump has shown no signs of lowering the current tariff rate on Chinese goods, which currently stands at 145%.
- President Trump has stated that China should review their records to verify the initiative for the high-level talks, as he himself did not directly attribute it to the US.
- During the talks, US Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer will represent America, meeting with Chinese officials in Beijing over the weekend.
- China has agreed to participate in the talks but has also implemented economic stimulus measures to counter the impact of the tariffs on their economy.
- The US, in preparations for the discussions, aims to protect their interests by seeking to rebalance trade relations for reciprocity and national security.
