China and U.S. on Edge of Trade Stability: August Deadline Looms
China emphasizes the need for stable trade relations with the U.S., underscoring economic interdependence and seeking to avoid a tariff war. Recent talks suggest progress in dialogue, with attempts to finalize a durable agreement before the August 12 deadline. Both nations recognize the importance of mutual cooperation.
China has expressed a strong desire to stabilize its trade relations with the United States, as articulated by Commerce Minister Wang Wentao. Wang emphasized that the nations' economic interdependence warrants a collaborative approach and stressed that major countries must act responsibly.
Talks held in Europe have shown the potential to avoid further escalations, with the August 12 deadline looming for a durable tariff agreement. Without a resolution, the risk remains that global supply chains could face significant disruptions.
Nvidia's plans to resume chip sales in China were noted as indicative of broader trade negotiations. Both nations seem to understand that many goods exchanged between them are difficult to replace, highlighting the impracticality of a forced decoupling.
(With inputs from agencies.)
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