A potential breakthrough in trade talks between the US and China emerged on Wednesday, as China expressed willingness to negotiate with Washington, following President Donald Trump’s indication that tariffs would be reduced after a deal is reached.
Persecondnews reports that Trump’s trade battle with Beijing has intensified since it start 2018, with US levies on many Chinese goods now reaching 147.6%.
The trade tensions escalated with the US imposing additional 10% tariffs on Chinese imports in February and March 2025, prompting China to retaliate with its own set of tariffs.
It escalated further, with the US raising tariffs on steel, aluminum, and derivative products from all foreign sources on March 12, 2025, and imposing tariffs on automobile imports on April 3, 2025, followed by an 84% point increase on Chinese goods on April 5-9, 2025.
The current trade tariffs between the US and China stand at 124.1% for the US and 147.6% for China.
The trade war has sent shockwaves through markets, sparking fears of a global recession.
Trump acknowledged Tuesday that the level of US tariffs on China was currently ‘very high’, saying that they would ‘come down substantially’ after a deal is struck.
When asked about Trump’s remarks, Beijing reiterated its stance that tariffs and trade wars have ‘no winners’.
Spokesperson of the Chinese Foreign Ministry, Guo Jiakun, said at a regular press conference: “We do not wish to fight, nor are we afraid of fighting. However, if necessary, China will fight to the end. The door for talks remains wide open.
“Saying on the one hand that they want to reach an agreement with China, while on the other hand continuing to exert extreme pressure is not the correct way to have dealings with China.”
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