So far there have been no signs that the customs dispute between the USA and China could relax. But now at least a high -ranking conversation is planned – already in Geneva this coming weekend.
There should be a first high -ranking conversation in the trade dispute between the USA and China at the weekend. US Finance Minister Scott Bessent will travel to Switzerland on May 8 and also meet there with a leading business representative of the People’s Republic of China, the US Ministry of Finance said. Also and the US trade officer Jamieson Greer will take part in the conversation in Geneva. The U.S. Ministry left it open.
The Chinese Ministry of Commerce and China’s state media also confirmed a meeting between both sides. Accordingly, Vice Prime Minister He Lifeng will meet better in Switzerland. Taking into account the global expectations, the interests of the Chinese side and the appeals of the US industry and the consumer, the Chinese side had decided to contact the US side.
Bessent said that he was looking forward to “productive discussions with the aim of bringing the international economic system back into balance in order to better meet the interests of the United States”. In an interview in the Fox news news station, he said that he assumed that both sides will agree on what they want to talk about at the meeting. “I have the feeling that it is about a de -escalation, not about the big trade agreement, but we have to de -escalate before we can move forward.”
Contradictory Statements from Trump
US President Donald Trump had imposed a dial of 145 on imports from China. China reacted to Trump’s drastic customs increases by raising its own tariffs on imports of US products to up to 125 percent. In addition, China intensified the restrictions for the export of certain strategically important minerals to the USA and established the import of a wide range of US agricultural products.
Trump had recently contradicted the question of whether there were discussions between the USA and China. At first he claimed that there was an exchange with Beijing. The Chinese foreign office denied this.
