Published 07/05/2025 13:54 | Edited 07/05/2025 16:29
The increase in commercial tariffs in the United States, called ‘tariff’, followed by a policy of Chinese reciprocity should be discussed next weekend at the first meeting between the representatives of countries after Donald Trump opened a true trade war with several countries.
The White House and the China Ministry of Commerce confirmed the meeting that should take place in Geneva, Switzerland. On the US side, US Treasury Secretary should be present, Scott Bessent and US commercial representative Jamieson Greer. In turn, the vice-prime minister of the Council of State, He Lifeng, represents to China,
This beginning of negotiation aims to calm the spirits towards a negotiation that avoids the escalation of tariffs to the detriment of countries, with consequences for the entire planet.
Read more: Trump puts US in ruin and will lose to China, says Martin Wolf
Bessent issued a statement that he says he expects to rebalance the world economic system in a way that meets the interests of his country. To the Fox News, He said the US and China rate dispute is unsustainable and equals an embargo. While the US raised rates for imports of Chinese products to 145%, the Asian country increased to 125% of US products rates.
China’s Foreign Ministry spokesman, Lin Jian, exposed that the negotiation happens at the US request and said that pressure or coercion instruments will not work against China, so dialogue should be based on “equity, respect and mutual benefit”.
According to WTO (World Trade Organization) Director-General, Ngozi Okonjo-Iweala, the trade war between countries can decrease trade between them and affect world GDP by up to 7%, which impairs the global economy as a whole.
*With information Xinhua News and AFP
Source: vermelho.org.br
