US and China prepare for new round of trade talks on tariff reduction
Kyiv • UNN
Next week, trade talks between the US and China will take place, where a possible reduction in tariffs will be discussed. US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng will meet in Malaysia to discuss new measures.
Next week, a new round of trade negotiations between the US and China is likely to take place, during which a possible reduction in tariffs will be discussed. This is reported by Bloomberg, according to UNN.
Details
According to the publication, at the meeting, US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng will be tasked with agreeing on new measures to de-escalate tensions between the world's two largest economies.
In particular, Bessent announced that he plans to negotiate with Lifeng on Friday evening, and the meeting itself is to take place in the near future.
He and I and the delegation will meet in Malaysia - probably in a week, starting tomorrow, to prepare for the meeting of the two presidents
Bessent's comments came after US President Donald Trump expressed optimism about the possibility of reaching an agreement with the Chinese side that would help reduce tensions caused by threats of tariff increases.
As the publication writes, these statements indicate Washington's desire to calm fears of a full-scale trade war with Beijing, which could seriously damage the global economy.
I think we're doing very well. I think we're building a relationship with China
The US President also noted that, in his opinion, the planned meeting with Chinese President Xi Jinping, which is to take place this month in South Korea as part of the APEC leaders' summit, will take place.
Recall
The other day, US President Donald Trump announced the introduction of an additional 100% tariff on Chinese goods from November 1, 2025. This decision is a response to Beijing's "aggressive stance" on international trade and export controls.
Beijing, in turn, called on Washington to stop the pressure and return to negotiations. China stated that it would not hesitate with retaliatory measures.
The US Senate is ready to grant President Donald Trump the authority to impose up to 500% tariffs on China for buying Russian oil. US Treasury Secretary Scott Bessent said this fuels the Russian war machine, as China buys 60% of Russian energy resources.