Trump praises “friendly, constructive” trade conversations in the US China

Donald Trump says there was a “common reset” in trade relations between the US and China after the first day of talks between US and Chinese employees in Switzerland.

In the social media publication, the US president described the conversations as “very good” and said the change was “agreed in a friendly but constructive, way.”

An escalating trade war between Washington and Beijing has seen that the US president has hit Chinese imports to the United States with a 145%tariff. China avenged 125% levies on some American goods.

After months of back and forth, both sides have been dating Geneva this weekend for the first time since Trump hit China with tariffs earlier this year.

So far, small information has emerged beyond the President of the President of the US President. They must continue on Sunday and are held between China’s Deputy Prime Minister He Lifeng and US Finance Minister Scott Beshent.

“We want to see, for the good of both China and the United States, opening China to American Business. Much progress has been made !!!” Add Trump.

On Friday, White House press secretary Carolyn Levitt said Washington would not unilaterally reduce the tariffs and China will have to make its discounts.

Both sides have issued various other warnings before the meeting, with Beijing saying that the US should ease the rates, while Bechent stressed that the focus is on “de -escalation” and this is not a “big trade deal”.

Chinese state media have announced that Beijing has decided to engage with the United States after fully considering the global expectations, interests and calls of the country in US business.

Last month, BBC found Chinese exporters fighting US rates – A company, Sorbo Technology, has announced that half of its products are usually sold to the United States and are now sitting in boxes in a warehouse in China.

In the meantime, it was found that the US economy had shrunk in the first three months of the year – concluding a contract at an annual rate of 0.3% – as the companies competed to obtain goods in the country.

The trade war between China and the US intensified last month after President Trump has announced a universal base tariff for all the United States imports for what he called “the Day of Liberation.”

About 60 trading partners, which the White House described as the “oldest offenders”, were subjected to higher percentages than others. The list included China and the European Union.

Trump said this was a retribution for years of unfair trade policy for the United States.

It also separately announced a 25% tax on the import of all steel and aluminum entering the United States, and another 25% tariff for all cars and car parts.

Last week it was announced that The US and the UK have agreed a dealin which 25% will be reduced to 10% for a maximum of 100,000 vehicles in the UK – corresponding to the number of cars that the UK were exported last year.

Cars are the largest export of the United Kingdom to the United States worth about £ 9 billion last year.