U.S.-China Tariff Talks: High Stakes Discussions Begin in Geneva Amid Tension
U.S. Treasury Secretary and Trade Representative engage Chinese officials in Geneva amid high tariffs and economic pressures.
How US-China tariffs reached sky-high levels in 3 months
Associated Press
Trump signals he may lower tariffs on China
PBS NewsHour
Trump floats 80% tariff rate on China, down from 145%
Washington Examiner
Summary
In a critical turn of events, U.S. officials Scott Bessent and Jamieson Greer are meeting with Chinese Vice Premier He Lifeng in Geneva to address escalating tariff disputes. President Trump recently proposed reducing tariffs on China from 145% to 80%, aiming to alleviate trade tensions amidst domestic inflation pressures. The meeting marks a significant opportunity for de-escalation, though outcomes remain uncertain. As of April, U.S.-China trade had plummeted, impacting economies on both sides. Despite doubts from experts regarding the potential for meaningful agreements, some see the discussions as a vital step toward thawing relations.
Articles (32)
- The proposed tariff reduction by Trump signals recognition of the unsustainability of the current 145% rate, which has led to severe economic contraction in both countries and hurt consumers significantly.
- Ongoing trade negotiations in Geneva are crucial as previous aggressive tariff strategies have only intensified the economic impacts. There is an urgent need for a cooperative approach moving forward, especially in light of sharply declining import levels from China.
- An 80% tariff, as suggested by Trump, remains excessively high and may not significantly alleviate ongoing supply chain disruptions, which are already impacting prices and availability of goods for American consumers.
CNN·22d· "…The trade war has already affected the US economy."
CNN·23d· "…The American officials pointed to quiet outreach from Chinese officials that sparked the planning for the meeting, with a top Xi security advisor communicating a desire to work toward addressing Trump’s major problems on the fentanyl issue."
PBS NewsHour·23d· "…While an 80% tariff level on Chinese goods would represent a significant reduction from the current 145%, it would still be an extremely high import duty that could create supply chain problems and push up prices."
CNN·23d· "…Despite the increasingly dire warnings and economic turmoil, the United States and China remain far apart on an actual deal."
TIME Magazine·23d· "…While expectations for a breakthrough remain low, the fact that both countries have agreed to talk signals a recognition of the steep costs of prolonged conflict."
The Guardian·23d· "…But strip out the spin, and it’s clear the headline resilience masks a fundamental shift."
The Guardian·24d· "…Trade between the world’s two largest economies has slowed considerably since US president Donald Trump imposed various rounds of tariffs on China."
CNN·24d· "…The trade figures point to the significant toll the ongoing tariff war is already taking on the Chinese economy, as well as Beijing’s efforts to find markets beyond the US for its exports."
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