American and Chinese officials will finally meet commercial talks, a month after Trump rose the definitions to the highest level in the sky 145 %
After weeks of situations, the United States and China are finally prepared, paving the way to cancel the potential escalation of a mall of fermentation between the largest economists in the world.
According to US government data, US Treasury Secretary Scott Beesen and American Trade Representative Jameson Jarir will travel to Switzerland on Thursday, where they are scheduled to meet the Chinese Deputy Prime Minister who was in Ling, the main economist in Beijing. The meeting will be held between 9 and 12 May.
The Chinese Ministry of Foreign Affairs also certain He travels to Switzerland, where he will also meet Swiss officials.
Last Friday, the Chinese Ministry of Commerce said it was a “evaluation” of Washington to start talks, and indicated that senior American officials have repeatedly expressed their willingness to start trade negotiations with Beijing. US President Donald Trump Claim In late April, he spoke to Chinese President Xi Jinping about the definitions, but he refused to give any details.
The meeting in Switzerland is the first general commitment to start trade negotiations since Trump first imposed definitions on China in February.
Raise the revenge between the United States and China, definitions to amazing high levels. China is currently imposing a 125 % tariff on American goods, while the United States imposes a 145 % tariff on Chinese goods. However, both governments have given comprehensive exemptions for commodities such as medicines, semiconductors, and consumer electronics.
Asian markets hardly moved despite the news that the United States and China may begin to cancel manufacturing. The Hang Kong Index in Hang increased by 0.2 %, and Chinese CSI 300 in China increased by 0.6 %, starting at 4:00 pm Hong Kong time. Futures in the United States also reflected similar feelings with Dow Jones Futures and Future S&P Futures that acquire 0.42 % and 0.43 %, respectively.
However, canceling the escalation can be welcome to the two largest economies in the world as Trump’s trade war begins to have an impact.
Data from late April already showed a decrease in imports from China to the United States, and the CEO of Los Angeles Jin Seroca recently warned that retailers may have up to five weeks of full inventory. Decreased stocks may mean high prices and supply chain.
China has announced changes in the main policy on Wednesday, including price discounts, to support its economy.
This story was originally shown on Fortune.com
