Trade Talks: Short-Term Truce or Lasting Peace?
The U.S. and China agreed to a 90-day tariff truce during talks in Switzerland, reducing tariffs and raising prospects for trade cooperation. China's Global Times expressed concerns over the truce's short duration. Both nations look to ease tensions with minor concessions, yet major uncertainties remain.
During a recent Geneva summit, the United States and China reached a temporary 90-day tariff truce, drawing attention from global observers. This agreement saw the U.S. lower tariffs on Chinese imports, while China agreed to reduce duties on American goods.
Despite these concessions, the Global Times, a Chinese state-backed publication, voiced concerns over the truce's insufficient duration, calling for a more sustainable trading dialogue. It remains to be seen if the U.S. will continue negotiating with China beyond this initial timeframe.
In addition to adjusting tariffs, China pledged to pause certain non-tariff measures against U.S. firms. However, ambiguity persists about lifting restrictions, especially regarding rare earth minerals. Experts believe future discussions will revolve around these non-tariff barriers as both nations navigate their complex trade relationship.
(With inputs from agencies.)
- READ MORE ON:
- tariff
- truce
- U.S.
- China
- trade
- imports
- exports
- Global Times
- concessions
- restrictions
Google News