The US Minister of Finance Bessnt and the main business negotiator Jamieson Greer meet this week with the Chinese economic tsar in Switzerland – just a few weeks after the tension escalated between two nations after sweeping tariffs on imports.
The aim of the meeting is to alleviate tension and explore the potential solution because growing tariffs continue to disrupt global markets and stress on economic relations, Reuters said.
Last month, Trump’s administration introduced 145 % of the Chinese goods, which caused an immediate response from Beijing, which deposited 125 % of tariffs on US imports.
Although China has since its selected American products – including drugs, microchips and ethane – has remained high tension from its tariff list. American companies that quoted continuing economic uncertainty began to reduce orders and delay investment plans.
“Losing nothing”
At the White House event, Trump was asked by a reporter whether he was willing to reduce tariffs to bring China back to the negotiating table. He replied, “No.”
“We lost with China, business, trillion dollars a year – actually more,” Trump said. “You know what we’re losing now? Nothing. It’s not bad.”
He also rejected China’s claims that the United States had commenced business interviews this week. “They said we started? Well, I think they should return and study their files,” he added.
According to CNN, US stock markets have noted the following comments from President Trump and continued to decline since the official announcement of the tariff decision.
The trade between the two largest economies in the world has stopped largely since the beginning of the tariff dispute in March. However, this weekly meeting between the leaders of American and Chinese traders has been the first formal round of negotiations since then, CNN reported.
(Tagstotranslate) Trump tariffs
