Deep Dive: A Long-Awaited Breakthrough in US-China Trade Talks
Ongoing discussions on customs matters persist between the United States and China
In a significant turn of events, high-profile delegations from the United States and China have entered into negotiations to put an end to the prolonged trade war. US Treasury Secretary Bessent kept mum after the eight-hour meeting on the 11th of May, 2025. The talks are set to carry on the following day.
The US and China have reached a consensus to keep discussions going, with an insider confirming the geneva-based talks that began on Saturday will be extended into Sunday. While specifics remain under wraps, the meeting at the Swiss UN ambassador's residence by Lake Geneva marks the first significant engagement since Donald Trump instigated the trade conflict.
Global Trade on the Line
The ongoing negotiations are creating ripples worldwide, as their resolution could significantly impact the future of global trade. Trump's announced tariffs have taken a toll on global markets, causing widespread volatility. A successful resolution could curb trade tensions, bolster market stability, and promote investor confidence.
A Softening Approach from the US
Just days prior, Trump signaled a degree of flexibility regarding his tariff-centric approach. He revised the proposed tariffs on Chinese goods, stating that the 80% tariffs were "fair," a fall from the current 145% levels. However, Trump's spokesperson, Karoline Leavitt, stressed that China must also concede, as the US will not opt for unilateral tariff reductions.
Beijing has continuously urged the US to revoke its existing tariffs on Chinese goods. Chinese economist Xu Bin explained that the Geneva meeting mainly served to demonstrate "that both sides are talking - and that's already very important." With China being the sole country to counteract Trump's tariffs, the Geneva negotiation remains crucial for both parties.
The US: US Treasury Secretary Scott Bessent, Donald Trump, Tariffs, Trade Conflicts, China, USA
[1]: ntv.de, mau/rts/AFP
Sources:- ntv.de- mau/rts/AFP
- The prolonged US-China trade war, a topic of general-news, may soon find resolution, as the economic and monetary union of EC countries could potentially be affected by the outcomes of these business discussions, given the significant impact on global trade.
- The Geneva-based trade talks between the US and China, heavy with politics, are entering a critical phase, considering that the monetary union of many EC countries is closely tied to the global trade landscape, with China being the sole country to counteract the US tariffs.
