President Donald Trump finally says loudly what Beijing and Wall Street have been awaiting hearing. He told reporters on Thursday that 145% of import tariffs ended in China after his return to the White House.
“You can't get higher. It's 145, so we know it falls,” he said at a press conference, where he also revealed separate tariffs with the United Kingdom.
It was the strongest signal that the two largest economy on the planet are preparing to choose a trade fight that has been hit by global markets for months, according to BBC.
The meeting will be held in Switzerland this weekend to discuss the setback of tariffs, with top -notch officials. The US is accompanied by Scott Bessent, a treasury secretary, but China is represented by Premier He Lifeng, the country's main economic policy maker.
Although the first round is technical, everyone involved knows that it cannot be done if the two leaders finally enter. “I think everyone admits that any final transaction requires the active involvement of both presidents,” said former US trade negotiator Stephen Olson.
Trump says China's meeting is friendly
At the same event where he disclosed the UK Trade Agreement, Trump described the upcoming Chinese talks peaceful. “I think this is a very friendly meeting. They are waiting for it in an elegant way,” he said. On the Chinese side, Vice President Hua Chuyyl had the same energy.
Hua said Beijing had “full trust” in his ability to manage trade tensions with Washington. Both sides have hit economic pressure and, according to analysts, they are starting to behave.
Dan Wang, a political risk consultant at the Eurasian Group, told the BBC that according to recent labels, both governments are open to transactions. “Recent signals on both sides indicate that there is a transaction escalation on the table,” he said.
However, this does not mean that the basic questions are close to the fixation. “Systemic rubbing in the US and Chinese will not be solved soon,” Olson warned. Olson also believes that all tariffs from the upcoming meeting are minimal. “As a result of this meeting, the reduction of tariffs is likely to be small,” he added.
Eswar Prasad, the former head of the IMF Chinese Department, supported it, saying even as Trump walks the last tariffs, the two countries still have a long road ahead. “The realistic goal is likely to be the return from the high bilateral tariffs in the sky, but it would still leave high tariff barriers and various other restrictions,” Prasad said.
Chinese exports fall as the pressure grows on both sides
On Friday, the Chinese Ministry of Commerce published commercial data in April showing that exports to the US were more than 20%compared to the same time last year. At the same time, its total exports increased by 8.1%, which is higher than analysts expected.
This shows that China is able to move trade elsewhere while being hurt by the loss of US business. For Trump, these numbers could add to the need to escalate quickly, especially before his 2025 election campaign.
The Swiss meeting will take place two days after the Trump administration signed a new tariff contract in the United Kingdom, turning it into the first country, which reduced the official transaction under the new import duties.
According to the contract, the US reduces the duties of a specific set of British cars and allows the batch to enter the steel and aluminum tariff -free. Some other UK industries will also receive temporary relief from Trump's new tariffs since January.
Main difference wire: Secret tool crypto projects use guaranteed media coverage
