The USA and China begin talks to have a trade war this week
Of the main commercial officers of Trump Meet with their opponents Chinese This week to discuss the boss of Trade war.
Trade negotiations, first face between Chinese and American officials -Fase meeting The tariffs Treasury Secretary said that revenge started effectively in March, perhaps not leading a trade agreement, Scott bettingTuesday (6).
The tariffs have reached such a high level Business The dramatically fell between the two countries. Any melting in the trade war is a welcome sign for companies and consumers in both countries and around the world.
The United States has imposed at least 145% of Chinese imports, and China has responded to 125% tariff on some American imports.
Fresh tariff free ships – those in the sea when the tariffs are announced – almost everything is docked and the first ships with the objects subject to tariffs reach the ports.
This means that companies in China and the United States will soon face a difficult decision: paying the rate of doubling the cost of imported products or stops selling them completely. This means that consumers are more and less prices to try some low prices.
Punished tariffs have already hurt two economies. In the first quarter, Trump’s “Liberation Day”, which began in the second quarter, store goods in tariffs and store goods in the first quarter, in the first quarter, the first contraction in the quarter of the US.
Meanwhile, China’s manufacturing activities have been contracted at its fast pace in 16 months in April, and the government is expected to introduce the economy with another round stimulus.
Although China’s commercial stalemate is very aggressive, Trump has imposed big rates on many other countries in the world: 10% of universal duty on all items entering the United States, 10% universal duty, steel, aluminum, automobiles, auto parts and 25% of the goods in Mexico and Canada.
So the world is watching NTIC and observing discussions. The International Monetary Fund, OECD and Global Economists of the World Bank have slowed growth in some countries when Trump’s trade war has devastating impacts on the global economy, and rebounding inflation.
The United States is expected to be one of the hardest economies as other countries, including China, have revenge with high tariffs. Many American economists and big banks offer for the United States depression this year.
Bessent and US Commerce Representative Jamison Greer will travel to Geneva in Switzerland, where they will meet with Chinese officials.
In an interview with Fox News, Besant discussions represent the first step, but tried to reduce expectations for an agreement.
“My feeling is that it is not about breaking, not about a great trade deal … but we have to fly before we go ahead,” Besant said.
Despite continuous tensions, the two countries have signals for several weeks, the current deadlock is unstable. Bessent and Trump admitted that the tariffs were too high.
In an interview with NBC News last week, Trump said he would reduce the “some time” about China.
China was strongly condemned by the claims that countries were in active discussions, and refused to take the swearing in in a statement to the Congress on Tuesday.
But last week, China has changed its voice slightly and said he was reviewing the US proposals to start trade talks.
Wall Street has received the news: Markets have increased with negotiations reports. Double Futures increased to more than 200 points or 0.6%. Large S&P500 futures rose 0.7% and Nasdaq’s futures increased by 0.8%.
As Chinese authorities often say about Trump tariffs: no one can win in the trade war. This has been evident in recent weeks, as high tariffs have imposed significant damage to both economies and effectively frozen trade.
According to the Logistics and Freight Broker Flexport, the number of cargo ships from China to the United States fell 60% in April. JP Morgan predicts that Chinese imports for the United States will fall by up to 80% by the second half of the year.
“60% of containers are reduced by 60%,” Flexport CEO Ryan Peterson told CNN Pamela Brown on Tuesday. “It was only a long time until it was strengthened by the existing stock, and then we would see a shortage. We’ll see the price increase.”
The port of LA was waiting for 80 ships in May, but 20% of them were canceled, Los Angeles Port Executive Director Jean Seroka told CNN on Tuesday. Customers canceled 13 trips till June.
“This week, we are falling 35% compared to the same period last year, and the upcoming arrival ships are influenced by the tariffs imposed by China and other places last month,” Seroka said. “That’s why the load volume is very low.”
Despite rising serious warnings and economic confusion, both countries are far from an agreement. Both sides are vision that they need big initial concessions to start negotiations.
Besant said it would take two to three years to normalize trade with China.
Very depends on conversations in Switzerland. Without a commercial agreement in hand, Face -the -faces negotiations are encouraging. With both countries causing much damage to them, they started the defrasting process and left a very little choice.
“At some point, I will cut them because otherwise you will never do business with them,” Trump recorded NBC’s “Meet the Press with Kristen Welcer” on Friday. “They really want to do business … their economy is collapsing.”
The professor said there was a structural problem in the global economy
