Sensitive Speaks between us and Chinese representatives One day after a prolonged discussion, the tariffs threatening to support the global economy will resume over tariffs on Sunday, a source briefed on CBS News confirming meetings.
President Trump posted on his social media meeting on Saturday evening, saying “great progress was made”.
“A very good meeting with China in Switzerland today in Switzerland.” “Many issues have been discussed, a lot more agreed. The total reset is a friendly, but in constant, manner. We want to see China in the Mars for both China and the United States, American business.”
It was initially an instant indication that no progress was made during more than 10 hours between the Treasury Secretary Scott Basent and Switzerland in Switzerland. Discussions that can help stabilize world markets by the US-China standoff have spread in privacy and both sides have not commented on journalists on their way to journalists.
Based on Besent’s interview with Fox News last week, the initial discussion was probably about “about D-Socation, not about the big trade agreement.” The Treasury Secretary says the United States and China “shared” the United States because the high tariffs on both countries imposed in the last month are not “sustainable”.
US Commerce Representative Jamison Greer is also in Switzerland for discussion.
A number of black vehicles left the Swiss ambassador to the United Nations in Geneva, which organized a discussion to determine trade tensions between the two largest economies in the world. Diplomats from both sides also confirmed that there was talk.
The eighteenth -century spectacular “Villa Saladin” is being discussed, ignoring the Geneva lake. According to the Geneva government, the former estate was donated to the State of Swiss in 1973.
It is hoped that the two countries are huge tax-tariffs-they will hit each other’s products, a step that will release the global financial markets and companies on both sides of the Pacific Ocean that depends on US-China trade.
In an interview with NBC News last week, Mr. Trump claimed that Chinese officials “want to make an agreement very badly. The President also said that he had expected China to reduce the “at one point” tariff.
Meanwhile, Chinese officials say they are open to trade in the United States, but the Trump administration first pressured its “unilateral” tariff.
Mr. Trump raised our tariffs in China last month At 145% of the CombinedAnd China retaliated by hitting American imports with a 125% tariff. Basically the higher tariffs for the country to boycott each other’s products that disrupt the trade that was at the top of $ 660 billion last year.
Mr Trump had suggested on Friday before the discussion began that America could reduce its tariff in China, saying in the true social post “80% of the tariff seems to be right! Up to ScottThe ″
Sun Yun, director of the China program of the Sixes Center, mentions that he and Besent spoke for the first time. He suspects that the Geneva meeting will give any key results.
“The best scene is the best scene on both sides at the same time … should agree to D-Estate on tariffs,” he will send a positive signal by adding a small reduction. “It just can’t be the word.”
Since returning to the White House in January, Mr. Trump has aggressively used tariffs as his favorite economic weapon. For example, he imposed 10% tax on import from almost every country in the world.
However, the fight with China has been the most intense. Its tariffs in China include Beijing in the United States 20% charges to stop the flow of synthetic OPWeed Fentanil. The remaining 125% of a dispute involves the first term of Mr Trump and then he then comes to the top of the tariff he earned in China, which means that the total tariff on some Chinese products could exceed 145%.
During the first term of Mr Trump, the US has complained that China has claimed that China uses unjust techniques to give itself an end in advanced technology such as quantum computing and driverless cars. These allegations include forcing us and other foreign companies to transfer trade privacy in exchange for access to the Chinese market; Use of government money to subsidize domestic technology companies; And complete theft of sensitive technology.
These issues have never been fully resolved. After almost two years of discussion, the United States and China reached a so -called Phase One Agreement in January 2021. The United States agreed that China did not go forward with more tariffs and Beijing agreed to buy more American products. Difficult problems like China’s subsidies were released for future discussions.
However, China did not come with the promised purchase, partial reasons Covid -1 disrupted the global trade just after the announcement of one -level war.
The fight with China’s technology policy has begun again.
Mr. Trump is also excited to see the US huge trade deficit with China, which came to $ 265 billion last year.
In Switzerland on Friday, Besent and Greer Swiss President Karin Keller also met.
Mr. Trump suspended 31% tariffs on Swiss products last month – more than the 20% tariff plaster he made in export from the European Union. Now, he has reduced these taxes by 10% but warned that he could raise them again.
The burn government is taking a careful view. However, it has warned about the effects on important Swiss industries such as watch, coffee capsules, cheese and chocolate.
“The increase in trade tensions is not in the interest of Switzerland. The US imports against the United States are more expensive to increase our tariffs to increase our tariffs,” the government said last week that the executive branch “is not planning to impose any counter at present.”
Saturday, Besent said that trade talks with Switzerland were “very productive” and he cited Mr. Trump “was optimistic about the speed of this discussion” Trade agreement with the UK It is still being finalized.
“I am glad we agreed to the accelerated trade discussion and we hope that a detailed Swiss proposal will be submitted to the Ambassador Greer in the next week,” Basent wrote on social media. “Swiss companies have indicated their interest in investing 150-200 billion in the new US investment for President Trump’s policy and we are expecting our continued discussion.”
After the European Union, the second largest trading partner-2-member country in the United States of Switzerland is a country block, surrounded by more than 5 million rich Alpine countries. Over the past two decades, the US-Dole trade in goods and services has increased fourfold, the government has said.
The Swiss government says Switzerland canceled all industrial tariffs on January 5 last year, which means 99% of all the US products could be imported from Switzerland duty -free.
Contributed to this report.
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