US EditionUS, China tariffs need to fall for trade talks to start, Bessent says
- Treasury Secretary Scott Bessent stated that high tariffs between the US and China are not sustainable for trade, as both sides recognize the need to agree on lowering them before discussions can begin.
- President Donald Trump acknowledged that the 154 percent import tax on Chinese products would eventually need to decrease, indicating a softer stance in upcoming trade negotiations.
- Bessent emphasized that if China genuinely seeks to boost domestic consumption, there is potential for a mutually beneficial agreement between the two nations.
- The White House expressed a willingness to negotiate a significant rate cut on Chinese imports but made it clear that it would not unilaterally lower tariffs without China's cooperation.
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Trade Rebalancing Efforts Underpin UBS’s Downbeat Global Growth Forecast
UBS’s latest global growth downgrade comes as the United States and China both signal a shift toward trade rebalancing, a process now shaping the world’s economic landscape. US Treasury Secretary Scott Bessent recently stated that the high tariffs imposed between the US and China must fall before meaningful negotiations can resume. He described the current […]
·Brazil
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Trump administration signals willingness to negotiate tariffs with China
Treasury Secretary Scott Bessent expressed optimism that the United States and China could reach a significant trade agreement if China rebalances its economy toward domestic consumption rather than exporting cheap goods globally.
·United States
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Coverage Details
Total News Sources54
Leaning Left5Leaning Right11Center10Last UpdatedBias Distribution42% Right
Bias Distribution
- 42% of the sources lean Right
42% Right
L 19%
C 38%
R 42%
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