Washington indicates partial relaxation of trade tensions with Beijing
The United States will lower tariffs for Chinese imports, but not entirely remove them, President Donald Trump affirmed in a recent statement. This follows as part of continued trade negotiations that seek to relax the long-standing economic impasse between the two largest global economies.
President Trump reiterated that although the cuts in tariffs are significant, the administration is planning to keep some of the measures in place to protect U.S. trade interests. He pointed out the significance of having a constructive conversation with Beijing, adding that future cooperation hinges on concessions from both sides.
White House committed to balanced trade agreements
Trump explained that talks on trade with Chinese leaders are going on quite well, noting the appeal of the American market to foreign partners. He hinted that a total agreement is desired, although any eventual deal would involve huge undertakings from China to remake trade practices which have long troubled U.S. policymakers.
Concurrently, Treasury Secretary Scott Besant has intimated potential reductions in current tariffs, in alignment with Trump's overall trade agenda. The U.S. now imposes tariffs ranging up to 145 percent on a range of Chinese products, a rate which has caused high levels of friction in global trade circles.
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