China said the first trade talks with the USA this Saturday are ‘important step’
A. China Qualified as “important step” this Saturday (10) First commercial conversations With USA From the beginning Global Tariff WarEnabled by the American President, Donald Trump. There will be talks in Geneva, Switzerland this weekend.
Treasury Secretary, United States participates in Scott bettingAnd the US trade representative, Jamison Greer. China represents China by Vice-Master-Master, He is lifting.
A comment published by the official news agency Xinhua said that “an important step in promoting the solution of the introduction problem in Switzerland,” said a comment published by the official news agency.
These meetings began at the Luxury Chalet of the Swiss Permanent Representative at the United Nations in Geneva on Saturday and ended at 8 pm at 8 pm. Conversations will resume Sunday.
80% cut
Trump on Friday suggested reducing customs tariffs to Chinese products to 80%.
“The President wants to solve the problem with China. As he says, he wants to address the situation,” Commerce Secretary Howard Lutnik told Fox News on Friday.
Trump’s declaration reduction is still symbolic, because at this level, customs tariffs have a major impact on Chinese exports to the United States.
Since returning to the White House in January, Trump has converted customs tariffs into a political weapon and initially declared 145% of rates to China, along with existing ones.
Beijing promised to fight with “eventually” and responded with 125% rates on American products.
The outcome is that the bilateral trade between the two largest economies on the planet is stagnant and the markets become stronger.
The “structural” phase
The Director General of World Trade Organization (WTO), Engoji Ohonez-Ivela said that the talks in Geneva “positive and structural phase for the climbing reduction”.
In mid-April, the Ohoneo-ee has proven to be “very concerned and that trade between China and the United States represent only 3% of the trade of worldwide commodities, and the challenging” two major economies will have significant consequences “.
Switzerland President Karin Keller-Sutter is related to elections Pope Leo XIV With discussions. “The Holy Spirit is in Rome. We should now expect Geneva to come over the weekend,” he said on Friday.
China’s Vice-Master-Master, he lifteng, in April, increased its exports by 8.1%, which was fourfold by analysts.
At the same time, exports to the United States fell by nearly 18%.
However, the White House Press Secretary Carolyn Levit warned that “Trump does not unilaterally reduce customs tariffs to China” and calls for “concessions”.
According to the Indo-Pacific Program Director of the German Marshall Fund Group, Bonnie Glazer, “The result of the Switzerland negotiations will be an agreement to discontinue the majority, otherwise all the customs rates imposed this year during the bilateral negotiations.”
In turn, Chinese economist Lizzy Lee expects “symbolic and temporary gesture” at the Asian Society Policy Institute, which can “relieve tensions but not solve basic differences.”
At the International School of Business in Shanghai, Professor Zu bin and customs rates at China Europa (CEIBS) are afraid that they will not return to “reasonable level”.
“Although they descend, it could be probably half and again, they would be too much to have regular trade,” he said.
