Trade conflict
Preliminary agreement: China and the USA reduce mutual tariffs
The US government is a thorn in the side of the trade deficit with China. Penal dumplings should put pressure on the People’s Republic. Now both sides lower the import fees.
China and the United States decided to reduce their mutual tariffs in the trade dispute. As can be seen from a joint explanation, the regulation temporarily applies to 90 days.
USA had issued tariffs of 145 percent
Accordingly, US tariffs fall to Chinese imports to 30 percent. Before that, these were 145 percent. Beijing’s surcharges against imports from the United States decrease from 125 percent to 10 percent.
Previously, delegations of both sides in Geneva in Switzerland had met. Both the United States and China subsequently signaled progress in the negotiations, but without giving any further details.
According to Chinese information, both sides agreed to set up a mechanism for advice on business and trade, as Vice Prime Minister He Lifeng said, according to Chinese state media. The meeting in Geneva was an important step to solve the disagreements through dialogue and laid the basis for deepening the collaboration.
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. Among other things, US Finance Minister Scott Bessent and US trade officer Jamieson Greer took part in the talks.
“The us has a massive $ 1.2 Trillion Trade Deficit. So @Potus Declared a National Emergency and Imposed Taiffs, and We’Re confident that the deal we struck with our chinese partners will help help us toyving that National Emergency.” –@Ustraderep Jamieson Greer pic.twitter.com/0qvgjehm3m
– The White House (@Whitehouse) May 11, 2025
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The two largest economies in the world are arguing with China and the USA. In fact, a trade between the two countries was no longer possible among the tariffs previously applicable, which had also affected the global economy.
Reuters
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Source: Stern
I have been working in the news industry for over 6 years, first as a reporter and now as an editor. I have covered politics extensively, and my work has appeared in major newspapers and online news outlets around the world. In addition to my writing, I also contribute regularly to 24 Hours World.
