President Donald Trump took the first step before US-Chinese trade negotiations this weekend.
In a social position on Friday morning, the president suggested considerably reducing his price on Chinese products to 80% – still high, but 55% less than the current rate of 145%.
“The 80% price on China seems right! Until Scott B,” said the president.
The American Treasury Secretary, Scott Bessent and the commercial representative, Jamieson Greer, announced this week that they would meet their Chinese counterparts in Switzerland this weekend to discuss American-Chinese commercial relations while the heavy price of Trump remains in force and that the trade war is raging.
“China should open its market in the United States – would be so good for them !!! The closed markets no longer work !!!” Trump wrote in another Friday morning article.
Barely two days ago, while speaking to journalists from the oval office, Trump categorically said “no” when he was asked if he was planning to reduce his prices on China to help reduce the talks this weekend, although he also recently declared that the 145% tariff on China is “very high” and “would be” in a substantial manner “.
Before the talks, the expeditions of Chinese ports slowed down. American importers have started to weigh if they can afford to do business now that each shipment is subject to a rate of 145%.
“He went very quickly, so it is the result of customers who react very, very quickly on the cancellation of orders or the orders, and while waiting to see if this will be resolved,” said the CEO of Maersk, Vincent Clerc, when calling the company in the first quarter.
Trump has already been unleashed in China after Beijing retaliated at his “Liberation Day” prices. Since April, the two biggest economies in the world have largely stayed in journalizations. At the end of last month, the president said that China spoke with the White House – said Beijing has denied several times.
The two parties could not even agree on who initiated the high-level talks this weekend, but the news of the face to face conversation was considered a serious indication that an agreement could be in sight.
The current 145% rate is so high that many economists have essentially compared it to a commercial embargo. The White House has granted a series of exemptions for major technological articles, including Apple iPhones, but other industries have warned that price increases could arrive if help are not on the horizon.
Trump said the Americans had to take price increases on the chin in order to open the way for the resettlement of manufacturing.
“Maybe children will have two dolls instead of 30 dolls, and maybe the two dolls would cost a few dollars more than they would normally,” he told journalists at a meeting in April.
During past discussions, Trump showed that he will start with an important boastful before the arrival of a breakthrough. During his first mandate, he accumulated tensions with the North Korean leader Kim Jong Un, rejecting him as “Little Rocket Man” before finally agreing to hold historic talks with the nuclear nation.
Commerce secretary, Howard Lungick, another sales advisor, provided the president on Thursday for the way he can conclude the agreement.
“He’s the closest,” said Lunick, looking at Trump in the oval office. “He obtains agreements that we could never do.”
businessinsider
