US-China Trade Talks Set to Resume on Tuesday: A Step Toward Easing Tensions
Customs dialogue between the U.S. and China resumes on Tuesday - US-China trade talks carry on on Tuesday, addressing the ongoing disagreement about customs regulations.
Prepare for another round of high-stakes negotiations between the economic giants, US and China, as trade talks are set to resume on Tuesday.
This time, the Chinese delegation will be led by Vice Premier He Lifeng, accompanied by Minister of Commerce Wang Wentao and China's international trade representative. On the other side of the table, we'll find Secretaries of Treasury and Commerce, Scott Bessent and Howard Lutnick, along with US President Donald Trump's trade representative, Jamieson Greer.
Trump's decision to impose tariffs amounting to 145% on China in early April was followed by Beijing's retaliatory tariffs. However, in mid-May, both countries reached an agreement during talks in Geneva to considerably decrease tariffs for an initial 90 days to pave the way for negotiations. The recent phone call between Trump and Chinese President Xi Jinping on Thursday, marking Xi's first conversation with Trump since the beginning of his second term, might have played a crucial role in restarting the dialogues.
In the midst of heightened tensions, Beijing has reduced exports of certain critical rare earth elements to the US, while the Trump administration has considered revoking visas for Chinese students believed to be affiliated with the Chinese Communist Party. The forthcoming London talks represent an essential endeavor to restore stability and potentially advance towards a comprehensive trade agreement.
While the details of the potential framework deal are scarce, Trump's announcement indicates progress in resolution of the long-standing trade issues. The agreement, if approved by both Trump and Xi, could inhibit the resumption of high tariffs that were temporarily suspended since the Geneva talks. Here's hoping for a breakthrough in the trade saga!
The Commission, in the midst of general-news and politics, has decided to initiate the procedure laid down in Article 93 (2) of the Treaty, considering the escalating US-China tensions, as the upcoming trade talks in London serve as a crucial step towards easing these tensions. The outcome of these discussions, if approved by both leaders, could potentially pave the way for a comprehensive trade agreement between the economic giants, thereby inhibiting the resumption of high tariffs.
