“Good news”
Discussions have been the first time that senior officials from the two largest economies in the world have come face to face to approach the thorny business subject since Trump stuck new samples of new statements on China last month, causing robust Beijing reprisals.
The prices imposed by Trump on the Asian manufacturing giant since the start of the year currently total 145%, American cumulative tasks on certain Chinese products reaching 245%.
In retaliation, China has put 125% of prices on American goods.
Before the meeting, Trump reported that he could reduce prices, suggesting on social networks that “80% tariff on China seems right!”
However, his secretary to the press Karoline Leavitt later said that the United States would not abuse unilaterally prices and that China would also need to make concessions.
Upon entering the meeting, the two parties played the expectations of a major change in trade relations, besing stressing the emphasis on “de-escalation” and not a “big trade agreement” and Beijing insisting that the United States must first relieve the prices.
The fact that talks even occur “is good news for business and financial markets,” said Gary Hufbauer, a non -resident principal researcher at the Peterson Institute for International Economics (PII).
But Hufbauer warned that it was “very skeptical about what there is a return to something like the normal trade relations of American China”, even a tariff rate of 70 to 80%, potentially potentially reduced by the bilateral trade.
