Trump caused the resumption of the tariff dispute with Beijing last Friday (30)
It said it on Monday (2) that it “firmly rejects” the accusation that it would have a deal to reduce tariffs between the two powers, while Washington expects a dialogue between the presidents of the two countries to resolve commercial tensions. Trump caused the resumption of the tariff dispute with China on Friday by accusing Beijing not respecting the terms of the distension agreement negotiated on May 12 in Geneva, but China rejected the version. Washington “made false accusations and accused unhappy to China of violating consensus, which is seriously contrary to facts,” the Chinese Ministry of Commerce said in a statement. “China firmly rejects the accusations without appropriateness,” the note added.
The Geneva Agreement allowed it to temporarily suspend commercial tension, which had raised 125% US products and 145% Chinese products. After two days of meetings, the two powers agreed to temporarily reduce their rates to 30% and 10%, respectively. But Trump accused China of having “totally violated” the deal. The Chinese ministry said Washington “managed to introduce a series of discriminatory restrictive measures against China,” citing controls on artificial intelligence semiconductors and the revocation of visas to Chinese students in the United States. “We ask the United States to reach an agreement with China, correct their misconceptions and maintain the joint consensus of Geneva trade negotiations,” the ministry added.
Trump-xi meeting
“China is retaining essential products for the India and Europe supply chain, and this is not what a reliable commercial partner does. I trust that when President Trump and Communist Party President Xi Jinping, they communicate, this can be resolved,” United States Treasury Secretary Scott Bessent said in an interview with CBS. According to Wall Street Journal, the problem is due to China’s slowness to grant new rare land export licenses and other components necessary for semiconductors and cars. “The fact that China is retaining some of the products that has agreed to provide in our agreement, can be due to a failure in the Chinese system or, perhaps, is international. Let’s see what happens” after the meeting between Trump and Xi, Bessent added, referring to the theme of rare lands.
Asked when the dialogue could occur, the United States Treasury Secretary replied, “I think we’ll see something very soon.” In an interview with ABC, also on Sunday, Kevin Hassett, White House’s main economic advisor, suggested that direct contact between the two presidents could occur “this week.” “I think (China) is simply taken time to implement the agreement (…) we are taking certain measures to show them our opinion about it,” the Secretary of Commerce, Howard Lutnick, said in another televised interview. “Our president knows what he has to do and will find a solution, I’m sure of that,” he added.
On Wednesday, the United States International Court of International Commerce blocked “reciprocal” tariffs of at least 10% claimed by Trump, as well as those imposed on Canada, Mexico and China in the scope of the War against Fentanil, considering that only Congress would have colleges to do so. In the decision, to which AFP had access, the judges understood that the president could not invoke the 1977 Emergency Economic Response Act (IEEPA) to impose, by decree, “an unlimited surcharge to products of virtually any country.” A court of appeals, to which the government appealed, blocked this resolution, waiting for a decision on the bottom of the matter.
Posted by Luisa Cardoso
*With information from AFP
