This weekend, heavy representatives from the USA and China will meet for the first time since the trade war broke out. On one side of the negotiating table sit, among others, the US Finance Minister Scott Bessent, and on the other, Vice Premier He Lifeng of China.
At 10 am on Saturday, the negotiations began, according to the state-owned Chinese TV station CCTV.
Before the weekend's meeting, Donald Trump made a statement on Truth Social, opening up to lowering tariffs against China to 80 percent compared to the 145 percent that currently applies. The White House later stated that there can be no talk of reductions without countermeasures from China.
China has responded by introducing tariffs of 125 percent on American goods.
In practice, tariffs exceeding 100 percent on both sides resemble a trade embargo, according to Finance Minister Bessent.
In an interview with Fox News before the meeting, he downplayed expectations for the weekend's negotiations. It's mainly about de-escalating the tense situation, not about reaching a comprehensive trade agreement. And first, one must agree on which ones to discuss.
Trump has also threatened to significantly raise tariffs against several other countries, including EU countries. However, the implementation has been paused for 90 days. Against Chinese goods, however, the tariffs were introduced immediately.
