Hours before greater tit-for-tat penalties are scheduled to reappear, a tariff ceasefire between the two largest economies in the world remains uncertain, and Beijing is turning to Washington for “positive” trade outcomes.
In May, both nations agreed to temporarily reduce the prohibitive triple-digit tariffs that the United States and China had imposed on each other’s exports this year, which were strangling commerce. All eyes are now on the future, though, as their 90-day reprieve from harsher taxes is set to end on Tuesday.
In a statement, Chinese Foreign Ministry Spokesman Lin Jian stated, “We hope that the US will work with China to follow the important consensus reached during the phone call between the two heads of state.
Beijing also wants Washington to “strive for positive outcomes on the basis of equality, respect, and mutual benefit,” he continued. After high-level negotiations in Geneva in May, all parties came to an agreement to de-escalate hostilities, but their truce has been weak.
As differences surfaced and US officials accused their colleagues of breaking the accord, important economic leaders met in London in June. Last month, policymakers convened once more in Stockholm.
However, US trade envoy Jamieson Greer stated last month that President Donald Trump will have the “final call” on any such extension, despite the fact that both nations seemed to be trying to delay the return of levies.
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