U.S.-China Trade Talks Resume with Focus on Reducing Tariffs and Overcoming Crisis
In recent developments reported by international sources, next week is expected to become a pivotal moment in the evolving trade relations between the world’s two largest economies— the United States and China.
According to Bloomberg, a new round of negotiations is scheduled, aiming to reduce tariffs and find common ground to overcome the economic crisis threatening the global market.
U.S.
Secretary of the Treasury Steven Mnuchin and Chinese Vice Premier He Lifeng are tasked with establishing new mechanisms to ease tensions and restore trade flows.
Mnuchin stated that he will discuss future steps with He Lifeng tonight, and next week, during the meeting in Malaysia, they plan to coordinate preliminary issues before the presidential summits of both nations.
This comes amid optimistic statements from U.S.
President Donald Trump about the possibility of reaching an agreement that could avoid a large-scale trade war.
At the same time, Trump emphasized that ongoing negotiations are a positive step toward stabilizing the situation.
He also noted that his upcoming meeting with Chinese President Xi Jinping at the ASEAN summit in South Korea would be another critical platform for mutual understanding.
Last week, Trump announced his intention to impose a 100% tariff on Chinese goods starting November 1, which he claims is a temporary measure.
Despite this, in an interview with Fox Business, he described the high tariffs as unstable and subject to change.
Experts point out that these negotiations are the final attempt to circumvent a deepening trade crisis, considering previous rounds and talks held in Europe and Asia.
It is recalled that the U.S.
and China have been in a trade conflict for several years, which raises concerns for global markets.
Additionally, the U.S.
administration has proposed prohibiting Chinese airlines from flights over Russia en route to the U.S., further escalating international aviation tensions.
It is expected that China will strengthen its strategic reserves of gold and oil, preparing for potential escalation, which could have far-reaching impacts on the world economy.