US and China hold first talks since trade war broke out
The United States and China are going to talk to each other. And that is the first time since the start of the trade war. On Thursday, among others, the American Secretary of the Treasury, Scott Bessent, and the Chinese Vice Premier will sit at the table. This will take place in Geneva, Switzerland, reports the American Department of the Treasury.
According to Bessent, the current situation is not sustainable, especially for China. "We have shared interests. We don't want to decouple our economies, what we want is fair trade," he told the American news channel Fox News.
Trump demanded that China take the first step to get the talks going. He said that Chinese President Xi Jinping had called him, but this is denied by China.
Dolls and pencilsThe US president said earlier this week that children do not need dozens of dolls and 250 pencils, meaning that imports could be reduced. At the same time, he does not rule out a deal and lower tariffs for China.
China says respect, equality and mutual benefits are important in the talks. There will be no agreement "if the US says one thing and does another," a spokesman for the Ministry of Commerce said. The talks should not be used as a cover for continued coercion and blackmail, China said.
High leviesThe Trump administration raised tariffs on Chinese products from 20 percent to 54 percent a month ago. After Chinese countermeasures, the tariff went up to 145 percent. China has a 125 percent tariff on American goods.
The American delegation will also meet with Swiss President Karin Seller-Sutter. Higher import duties apply to products from the Alpine country than to goods from the European Union.
Trump has more wild plans. For example, he wants to reopen the infamous Alcatraz prison:
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