The administration of US President Donald Trump is mulling a plan to reduce the massive tariffs previously imposed on goods imported from China, the New York Post reported on Thursday, citing sources familiar with the matter. The measure will reportedly come into force as soon as next week and remain in effect during trade talks between Beijing and Washington.
Senior officials from China and the US are set to meet on Saturday in the Swiss city of Geneva to hold negotiations, as the countries with the world’s two largest economies seek to de-escalate tensions that have resulted in a de facto mutual trade embargo.
The sweeping 145% tariff on Chinese imports will be reduced to between 50% and 54%, the New York Post cited sources close to the negotiations as saying. Trade tariffs on neighboring South Asian countries could be cut to 25%, one source told the tabloid.
Commenting on the reported reduction, White House spokesman Kush Desai told the outlet that any decisions on tariffs would come directly from the president, adding that “anything else is just pure speculation.”
Relations between Washington and Beijing have been strained due to Trump’s decision to impose the steepest-ever tariffs on Chinese exports to the US. The president cited national security and concerns about the trade imbalance to justify the measure. The Chinese authorities, in turn, have accused the White House of “economic bullying” and retaliated with 125% tariffs on all US imports and introduced export controls.
Earlier this week, China’s Commerce Ministry confirmed that Vice Premier He Lifeng will meet with US Treasury Secretary Scott Bessent for economic and trade talks during his visit to Switzerland this coming weekend.
On Thursday, Trump expressed hope that the two nations could resolve their differences and reach a deal that would benefit both sides.
Counter Information publish all articles following the Creative Commons rule creative commons. If you don't want your article to appear in this blog email me and I will remove it asap.
No comments:
Post a Comment