According to reports, the meet is scheduled for Saturday, setting a target of reducing the tariffs to below 60 percent.
United States president Donald Trump has indicated towards reducing the 145 percent tariff on Chinese goods on Thursday, ahead of talks between US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng. According to reports, the meet is scheduled for Saturday, setting a target of reducing the tariffs to below 60 percent.
Trump addressed the possible reduction while announcing a new trade deal with the United Kingdom. "You can't get any higher. It's at 145, so we know it's coming down," he asserted.
The negotiations that are agreed upon in the two-day meeting are set to be implemented as early as next week, as reported by Bloomberg. There is no certainty to any conclusions but the meeting is being held to voice concerns attempting to alleviate the escalating tensions between both nations.
According to the BBC, officials from both nations are under increasing pressure to address the trade concerns. The US is also going into the negotiations with a priority of getting China라이브 바카라 export restrictions on rare earth minerals removed. Rare earths are used to make magnets and the restrictions have led to several industries in the US facing disruption.
While referring to the talks, White House spokesperson Kush Desai stated that, ““The administration라이브 바카라 only goal with these talks is to advance President Trump라이브 바카라 America First economic agenda towards fair and reciprocal trade relations. Any discussion about ‘target’ tariff rates is baseless speculation."