The Chinese Vice President On Lifeng and the US Treasury Minister Scott Bessnt on Saturday, May 10, organized high interviews in Geneva, which meant a preliminary step to solve the trade war.
The meeting comes in the middle of a steep lane – 145% on Chinese imports to the US and 125% on American goods to China.
Both delegations met in the Residence of the Swiss Ambassador and participated in a few hours of discussions. The conversations were expected to continue to Sunday and increase cautious hopes for progress.
Washington: The effort for a fairer trade
US President Donald Trump, who spoke on Friday, reaffirmed his hard attitude but opened the door to a potential compromise. “We have to do a lot for America,” Trump said as he asked for Geneva’s conversations. It indicated flexibility, indicating that 80% of the tariff can replace the current 145%.
Trump was pushing to be disappointed if he wasn’t closed, he said, “No, but I think we’ll return with a fair agreement for China and for us.”
Trump stressed that even in new stores the tariff “at least 10% of the base line” remains. “There could be exceptions, but basically you have a baseline at least 10%. Some will be much higher – 40%, 50%, 60% – as they do over the years,” he added.
Beijing: “Solid as Rock”
China pushed firmly back and demanded the US to clarify its requirements and consider Beijing as the same partner. On Saturday’s commentary by Xinhua, “Chinese determination to protect his interests of national development is as solid as the rock … His attitude to the defense of international justice and the global economic order remains unwavering.”
Background: impact on trade war
The trade war, intensified since the return of Trump to the office, has seriously disrupted global supply chains and increased fears of decline. Trump quoted unfair business practices and Chinese inability to limit the export of fentanyl as reasons for increasing tariffs.
With global attention about Geneva, the next few days could prove to be key to determining whether both economic giants can direct to de-school-calaci or slip deeper into the conflict.
(Tagstotranslate) USA Chinese trade war
