6 months Ago
"We both agree that we need to talk again, and this weekend, we will decide what topics we can discuss," Bessent said.
Earlier in the month, President Trump announced a 90-day pause on global tariffs, but instead raised tariffs on China. US tariffs on various Chinese goods now stand at 145%, while China has retaliated by imposing a 125% tariff on US products.
Who Reached Out?
In recent weeks, multiple countries have reached out to the US, hoping to strike a trade deal and avoid the ongoing tariff war. Bessent noted, "The world has come to the US, and China has been the missing piece." However, the exact nature of the outreach remains unclear. According to the Chinese government, it was the US that sought to begin negotiations.
Bessent is currently in Switzerland to discuss a deal with the Swiss government, while a Chinese delegation, led by Chinese Vice Premier He Lifeng, is also heading to Switzerland to meet with Bessent's team.
Sustainability of Tariffs
It appeared that China had been reluctant to engage in talks unless the US reduced the tariffs. However, Bessent stated that both countries had a mutual interest in resolving the situation and reducing tariffs, describing the current state as "unsustainable."
The Chinese government has emphasized that it is in their best interest to continue reaching out to American companies and consumers.
The ongoing trade war has caused significant disruptions in global maritime freight transport, with many ocean-going vessels changing their routes or canceling sailings in the past month.
Stay informed with DutchNews – your go-to source for the latest updates from the Netherlands and around the globe, covering trends, politics, tech, health, sports, entertainment, and more!
