The Treasury Secretary Scott Bestent and the commercial representative of the United States, Jamieson, They started the meetings In Geneva with a Chinese delegation led by the deputy prime minister, He Lifeng, reports the Chinese news agency Xinhua.
The exact place of the meeting has not been revealed, which will take place This Saturday in Geneva. The diplomats of both sides also confirmed the start of the conversations, but they spoke on condition of anonymity.
The prospects that the conversations can move towards a decalous of the commercial war rare. But there is hope that the two countries RInstructed the enormous rates who have applied to the other products, a measure that relieve to world financial markets and companies on both sides of the Pacific Ocean that depend on the trade between the United States and China.
Last month, the president of the United States, Donald Trump, Increase in rates Americans on China up to a total of 145% and China sell themselves with a 125% tax on US imports. Rates so high essentially equal to boycott of the products of the other side, disturbing a trade that last year amounted to more than 660,000 million dollars.
Even before the start of the negotiations, Trump suggested Friday that the United States could reduce their rates in ChinaBy saying in a post in its truth on social networks that “80 % rates sound quite well”.
Sun Yun, director of the Chinese program of the Stimson Center, said it will be the first time That I and the similar we are talking. And he doubts that the gin meeting produces substantial results. “In the best of cases, the two parts would agree to reduce the rates at the same time,” he added, adding that even one Small reduction Send a positive signal. “They can’t be just words.”
Since he returned to the White House in January, Trump He aggressively used rates like his favorite economic weapon. For example, you imposed on 10% tax to imports from almost all the countries of the world.
But the struggle with China was The most intense. Its rates in China include a constraint of 20% Designed to press Beijing to do more to stop the flow of Fenestanil synthetic opioids in the United States. Him 125% The remainder is linked to a dispute that dates back to Trump’s first mandate and overlaps the rates that he then imposed on China, which means that the total rates on some Chinese products it could exceed 145%.
During Trump’s first term, the United States said that China USA unjust tactics To obtain advantages in advanced technologies such as quantum calculation and driver without driver. These tactics include the construction of US companies and other countries to provide Commercial secrets In exchange for access to Chinese market; Use the government’s money to subsidize national technological companies; and the shameless theft of sensitive technologies.
Problems never solved at all
After almost two years of negotiations, the United States and China reached the call Phase agreement In January 2020. The United States therefore agreed not to go on with even higher rates on China and Beijing agreed to buy multiple American products. THE more difficult problems -Chinese subsidies were left for future negotiations.
But China did not materialize promised purchasesIn part because the Covid-19 has disturbed world trade shortly after announcing the truce of the first phase.
Now the struggle for Chinese technological policy takes up
Trump is also nervous for the enormous commercial deficit of the United States with China, which last year amounted to 263,000 million dollars. In Switzerland, Best and Greer also They gathered With the Swiss president, Karin Keller-Sustter. “I told the Best secretary who apparently the Holy Spirit was yesterday in Rome and I hope he arrives in Geneva during the weekend,” said the president after Friday meeting, which he considered “,disappointing“In order not to soften hard rates to Swiss products
Last month, Trump suspended Its plans to apply strong rates of 31% to Swiss products, rather than the 20% rights imposed on exports from the European Union. At the moment, it has reduced these taxes by 10%, but it could increase them again.
The Bern government is prudent. But he warned impact In the main Swiss industries, such as watches, coffee, cheese and chocolate capsules. “An increase in commercial tensions He does not benefit from it To Switzerland.
The countermeasures against the increases in the rates of the United States would be the costs for the Swiss economy, in particular impose countermeasures Right now. “The government said that Swiss exports to the United States took place on Saturday with a further rate of 10%and another of 21% Starting from Wednesday.
ADVERTISINGThe United States are the second Commercial partner From Switzerland after the EU, a block of 27 countries surrounding almost the rich alpine country more than 9 million inhabitants. The trade of goods and services between the United States and Switzerland has quadrupled in the last two decades, according to the government.
On January 1 of last year, the Swiss government abolish all industrial ratesWhich means that 99% of American products can be imported quickly.
Karin Keller-Sutter has been shown, who is also a Swiss Finance Minister encouraged For conversations with the secretary of the US Treasury, Scott Bestent, and trust that this weekend is Solve In Geneva a clash of a greater draft of the commercial war between the United States and China.
