Trade conflict
Commercial representative: deal with China in the customs dispute
The United States and China struggle for an approximation to get bilateral trade going again. What you agree behind closed doors in Geneva is still not known.
According to the US trade officer Jamieson Greer, the United States has achieved a “deal” in the customs dispute talks with China, ie an agreement. Details are to be communicated on Monday. The Chinese side around Vice Prime Minister He Lifeng initially did not comment on the end of the talks in Geneva.
US President Donald Trump called out the national emergency due to the massive trade deficit with China in terms of $ 1.2 trillion, said Greer.
“We are confident that the deal we have met with our Chinese partners will help us to fix the national emergency at work,” he said after the two -day talks. Both sides quickly agreed that differences of opinion may not be as large as initially assumed. Finance Minister Scott Bessent spoke of “substantial progress”.
China denounces damage
The State Chinese news agency Xinhua, a mouthpiece of the ruling communist party, wrote in a comment on Sunday, if Washington really wanted to solve trade conflicts through dialogue, it must first deal with the damage that its politics driven by tariffs had added to the global trading system and its own economy and its citizens.
Trump brought relationships with China to Chinese products to a low point after taking office with massive tariffs. They are currently 145 percent. China reacted to US products with 125 percent tariffs.
The show of strength between the two largest economies in the world has an impact on the entire global economy, with particularly devastating consequences for developing and emerging countries. “
USA want to boost exports
Trump’s Minister of Commerce Howard Lutnick said on Sunday that the high tariffs on imports from China would of course lead to the imports. But that is only a first step in the negotiations. “The president’s customs policy is to open all markets in the world that were closed to us,” he said on US television. The aim is that the Americans exported more.
Meanwhile, Beijing actively advertises other trading partners. The “oversized market” of China offers more options for products from Latin America and the Caribbean, said a high -ranking official of the Foreign Ministry on Sunday. At a forum with government representatives of the community of Latin American and Caribbean states (Celac) next week in Beijing, cooperations in raw materials, food and infrastructure are to be decided.
Notification of the US Ministry of Trade, English communication by the Chinese Ministry of Commerce, Chinese
dpa
Source: Stern
