Trade War: Why "We Shouldn't Rejoice Too Much" at the Suspension of Sino-American Customs Duties

The announcement was eagerly awaited by the markets. On Monday, the United States and China announced in a joint statement that they had agreed to suspend the punitive tariffs imposed in recent weeks. Specifically, by May 14, Washington will reduce its tariffs to 30%, and Beijing to 10%, according to U.S. Trade Representative Jamieson Greer. A reduction of 115 percentage points, in other words.

While it signals a détente between the two major powers, Marcos Carias, North American economist for credit insurer Coface, is cautious about the consequences of this agreement. Without it, the economic repercussions of escalating trade tensions would have become unmanageable. But "nothing concrete has come out of this whole trade war, simply a return to the status quo."

LE FIGARO. - While the United States has announced that it will reduce its customs duties to 30% (instead of 145%), and China to 10% (instead of 125%), what is the current state of affairs?