Commercial conflict: China sees consensus after customs discussions with the USA achieved

According to the Chinese delegation, China and the USA achieved a “series of important matches” during their customs talks. In addition, the two sides would have agreed to set up a mechanism for advice on business and trade, said Vice Prime Minister He Lifeng, according to Chinese state media. Details would be worked out as soon as possible.

China and the USA announced a joint explanation for this Monday. He described the discussions at the weekend in Switzerland as “open and constructive”. The meeting in Geneva was an important step to solve the disagreements through dialogue and laid the basis for deepening the collaboration.

China is ready to “enlarge the cake of cooperation” and to promote the trade relationships with the United States for a new development in order to bring more stability to the global economy, said He.

USA also speak of agreement

According to US information, the two sides had agreed in the customs dispute – and thus achieved a possible breakthrough in the stuck trade conflict. There were no details from Washington at first. Among other things, US Finance Minister Scott Bessent and US trade officer Jamieson Greer took part in the talks.

The White House published a message that was overwritten with “USA terminating China trade agreements in Geneva”. However, the message did not become more specific. After completing the talks in Geneva, Greer spoke of a “deal”, improperly of “substantial progress”.

The trade between the United States and China has hardly been profitable due to the high tariffs and thus almost came to a standstill. The relationships between the two largest economies in the world have reached another low since the escalation in the trade conflict in April. US President Donald Trump imposed 145 percent tariffs on goods from China. Beijing decided to do against tariffs of 125 percent on US goods.