China and the United States are in negotiations to reciprocally reduce tariffs that could reach US$30 billion (around R$174 billion) in products, according to the spokesperson for the Chinese Ministry of Commerce, Huang Ling, in a press conference on Thursday (10). The announcement comes close to President Xi Jinping’s visit to Washington, which, according to the American press, should take place on the 24th.
According to Huang, the economic and commercial teams of the two countries comply with the consensus reached by the two heads of state in May, in Beijing. The objective is for the reductions to take effect “as soon as possible”.
Trade between both countries has grown in the last period. From January to August this year, commercial exchange was 2.76 trillion yuan (around R$2.4 trillion), which represents an increase of 1.3% compared to the same period of the previous year, according to data from the General Administration of Customs.
US sanctions do not stop
Even with negotiations to reduce tariffs, the United States has maintained an almost permanent policy of new sanctions. On July 31, the US Department of Homeland Security (DHS) placed more than 40 Chinese entities on the list of the so-called “Uighur Forced Labor Prevention Act”, shortly after a video conference between the two countries’ main trade negotiators.
China’s Ministry of Commerce called the move a “typical act of economic coercion” and said it “seriously harms the legitimate rights and interests of the companies involved and seriously disrupts the stability of global industrial and supply chains.”
In July, the Federal Communications Commission (FCC) added advanced robotic equipment and power inverters to the list of products banned from the US market. For the Ministry of Commerce, the measure “abuses the concept of national security” and discriminates against Chinese products, trying to appear neutral. China responded with countermeasures, including restricting exports of drones and components to the US and opening a national security investigation into imported printing and copying equipment.
The US Trade Representative’s office also applied tariffs of 12.5% on Chinese products, supported by a Section 301 investigation under allegations of “forced labor”. The ministry said it reserved the right to “take all necessary measures” and urged the US to lift the tariffs.
Source: www.brasildefato.com.br
