The US wants to start talks on tariffs with China - media
Kyiv • UNN
The U.S. is actively reaching out to China to discuss Trump's tariffs, hinting at possible negotiations. China has tacitly formed a list of American-made goods that will be exempt from tariffs.
The States have approached China with a request for negotiations on President Donald Trump's 145% tariffs, supported Chinese social networks said. This potentially signals Beijing's openness to negotiations. This is reported by UNN with reference to Reuters.
Details
The United States has been actively reaching out to China through several channels, hoping to hold discussions on the issue of tariffs
American officials, including Treasury Secretary Scott Bessent and White House economic adviser Kevin Hassett, have also expressed hope for progress in easing trade tensions.
Hassett told CNBC that there have been "free discussions" in both governments regarding trade regulation, and China's easing of tariffs on some American goods last week was a sign of progress.
According to him, Beijing made little effort to contain its anger over Trump's tariff policy, which he said amounted to intimidation and could not stop the growth of the world's second-largest economy. Instead, he channeled his anger into rallying the public and the world, who condemned import restrictions, showing no interest in mitigation.
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Nevertheless, in addition to using its propaganda machine to combat tariffs, China has secretly formed a list of American-made goods that it will exempt from its 125% tariffs in response, including individual pharmaceuticals, microchips and jet engines.
Bessent did not mention any specific negotiations with China during an interview with Fox Business Network, but said that high tariffs of 145% from the US and 125% from China need to be de-escalated in order to start negotiations.
I am sure the Chinese will want to reach an agreement. And, as I said, it will be a multi-stage process. First, we need to de-escalate, and then over time we will begin to focus on a larger trade agreement
One of the first steps, he said, would be to review China's failure to meet its obligations to purchase American goods under Trump's "Phase 1" 2020 trade deal, which ended his trade war with Beijing during his first presidential term.
That deal stipulated that China would increase purchases of American industrial and agricultural products and services by $200 billion annually for two years, but the COVID-19 pandemic hit immediately after it was signed.
Bessent also said that "insidious" non-tariff trade barriers and intellectual property theft would also be part of the tariff negotiations with China, adding: "everything is discussed in the context of economic relations."
Let us remind you
China has secretly created a "white list" of goods produced in the USA, which will be exempt from the 125 percent duties imposed by China in response to a sharp increase in import duties on Chinese goods by US President Donald Trump.