The US customs duties for Chinese goods reduce 90 days from 145 percent to 30 percent and Beijing will reduce custom tasks for US goods from 125 percent to 10 percent. The US Finance Minister Scott Bessent and the US trade representative Jamieson Greer organized a press conference at the weekend with the Chinese Delegation in Geneva.
Bessent said that an agreement with China was achieved with a significant influence of a break of 90 days and customs tasks and that China and the United States did not want to decompose.
Bessent describes the negotiations with China at the weekend as “solid” and “respectful” and “we have a very solid and efficient interview for the steps taken in Fentanil. We agree that both sides do not want to separate.” He said.
Bessent: “We expect very good meetings, now there is a Geneva mechanism in the conversations.” he said. “We have ended a very good result for the USA and China,” said the US trade representative Jamieson Greer, “the USA and China,” said the United States, more balancing. he said.
In a statement on the agreement, the United States went from 145 percent to 30 percent for 30 percent for Chinese goods from May 14, including the Fentanil duties.
In addition, a mechanism is set up to maintain the negotiations between China and the USA about trade and economic relationships. The United States and the Chinese delegations met at the weekend in order to have in Geneva, Switzerland. Yesterday, both the United States and China later stated that negotiations were made progress, but gave no further details.
The agreement of the two largest economies in the world in trade conflicts leads to enthusiasm on the stock markets, while the dollar reaches the value compared to many other currencies. The dollar index is currently 101.7.
China with the USA was restored through tariffs
US President Donald Trump announced additional customs tasks to trading partners, including China, on April 2.
At the end of the tariff recovery between the two countries with the reaction of China, the United States increased their customs tariff to China to 145 percent, and China brought 125 percent of the customs tariff to the USA.
The Washington government postponed the additional tariffs that it brought to other countries for 90 days while the tariffs came into force for China.
After the commercial tensions of the climbing, the American and Chinese officials agreed to meet collective bargaining in Switzerland this weekend.
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