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U.S., China Agree to Resume Trade Talks
President Donald Trump and China’s President Xi Jinping agreed last weekend to revive trade talks in hopes of ending the trade war between their countries.
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President Donald Trump and China’s President Xi Jinping agreed last weekend to revive trade talks in hopes of ending the trade war between their countries.
The U.S. currently imposes a 25% tax on $250 billion worth of Chinese goods. China levies 25% tariffs on $60 billion of products from the U.S. The truce temporarily suspends Trump’s threat to add tariffs of 10%-25% on another $325 billion worth of Chinese imports.
Trump quickly declared the U.S. is “winning” the trade war. But the truce does not in itself move either country closer to resolving fundamental differences about China’s intellectual property protection and government support for domestic companies.
The U.S. broke off talks in May after declaring that China had reneged on several key elements of a deal negotiators had hoped to complete within weeks.
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