United States and China They concluded in Stockholm Its third round of commercial negotiations Without reaching a final agreementalthough with clear signs that both parties seek to extend the current Tariff truce, that expires on August 12. The final decision will be in the hands of the US president, Donald Trump.
Both Washington and Beijing positively described the meeting held in the Swedish capital. The US commercial representative, Jamieson Gerer, described conversations as “very productive”while the Chinese negotiator Li Chenggang He considered them “deep, sincere and constructive.”
The US Treasury Secretary, Scott Besenttogether with Greer, they will present a detailed report to President Trump in the White House. It will be the president who determines whether the pause is extended in the tariff climb for another 90 days.
“We will approve it or not,” Trump said aboard the Air Force One, back to Washington after visiting Scotland. The president revealed that Besent transmitted that the conversations with the Chinese team “were very good.”
The risk of a tariff rebound
Within the framework of the current truce, the USA reduced tariffs to Chinese products from 145% to 30%, while China fell from its own from 125% to 10%. However, if an extension is not reached before the deadline, American tariffs could rise again to levels of 80% or 85%, As Greer warned.
“The negotiating table involves the two greatest economies in the world,” Besent recalled. He added: “We do not seek a separation. What we want is to reduce risks in strategic sectors and work together to achieve a balance in our economic relations.”
The meeting in Stockholm is the third in the series of recent negotiations, after the May meetings in Geneva and June in London. In the latter, advances such as the relaxation of export controls by the US (in chips and aeronautical engines) were made. and the flexibility of the sending of rare earths from China.
On the way to a possible meeting between Trump and XI
Trump himself was more optimistic after the round in Sweden and anticipated that he could meet his Chinese counterpart, Xi Jinping, before the end of the year.
“If they had asked me yesterday, I would probably have said anything. Maybe I would even have been negative. But now I see it with other eyes,” said the president.
For its partLi Chenggang said that the economic teams of both countries will maintain “close communication And continue ”, exchanging points of view on key topics, with the aim of promoting a bilateral relationship” stable, healthy and sustainable. “
IMF warnings and latent tensions
The day coincided with a warning of the International Monetary Fund (IMF), that urged countries to solve their commercial differences and restore stability in their policies as an essential step for Reduce global uncertainty. The term set by Trump to its commercial partners to advance agreements expires on August 1.
Beijing, through means close to the regime, He reiterated that he will not accept unilateral conditions in the negotiationsuch as extraterritorial sanctions or technological restrictions, which he considers harmful for the climate of dialogue.
From the American optics, tariffs are a tool to correct structural imbalances. “China is the most unbalanced economy of modern times. It represents 30% of global manufacturing and has a current accounting equivalent to 2% of the world GDP. Something we did not see from the British empire in 1870. That is not sustainable, ”Besent concluded.
Source: Ambito
