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The Chinese Deputy Prime Minister, who Living, described the weekend talks with US officials as an “first step” in stabilizing bilateral trade relations, for each Bloomberg.
While either party did not announce immediately specific measures on Sunday, Leving said that the United States and China agreed to create a mechanism for more talks, led by US Treasury Secretary Scott Bessin and himself. Pesin said the United States would share the details on Monday, and promised a joint statement.
Living stressed that the basic nature of China and the United States trade is a profitable profit for mutual profit, as it returns against the Zero speech that recently dominated political discourse. He added that Beijing is ready to work with Washington to manage differences in a constructive manner and expand cooperation areas and “make the cooperation pie larger.”
Market reaction
At the time of the press, the AUD/USD pair rises by 0.10 % a day for trading at 0.6417.
Common questions between the United States of China for war
In general, the trade war is an economic conflict between the two countries or more due to severe protectionism at one party. It involves the creation of commercial barriers, such as customs tariffs, which lead to anti -import barriers, and to import costs, and thus the cost of living.
The economic conflict between the United States (the United States) and China began in early 2018, when President Donald Trump laid commercial barriers on China, claiming unfair commercial practices and theft of intellectual property from the Asian giant. China has taken retaliatory measures and imposed a tariff on multiple American goods, such as cars and soybeans. Tensions escalated until the two countries signed the commercial deal for the first stage of the United States of China in January 2020. The agreement requires structural reforms and other changes on the economic and commercial system in China and demonstrated by restoring stability and confidence between the two countries. However, the Koronavus virus’s pandemic took the focus from the conflict. However, it should be noted that President Joe Biden, who took office after Trump, maintained the customs tariff in his place and added some additional fees.
Donald Trump’s return to the White House as an American president ignited 47 new waves of tensions between the two countries. During the 2024 election campaign, Trump pledged to impose 60 % of the customs tariff on China once he returns to his position, which he did on January 20, 2025. With the emergence of Trump, the American trade war and China aim to resume the place where it was left, with policies for corrections that affect global economic records in nutrition in nutrition.
