Countries have conducted two rounds of negotiations in recent months to reduce commercial tensions, especially after the accentuated increase in US President Donald Trump’s tariffs
The United States Treasury Secretary, announced on Tuesday that he will meet with a Chinese delegation next week in Stockholm, before August 12 for the entry into force of the new tariffs. The United States and China have conducted two rounds of negotiations in recent months to reduce commercial tensions, especially after the accentuated increase in US President’s tariffs ,. The first date was in Geneva and then in London. Currently, rates are 10% of US products and 30% of Chinese products. The third round of negotiations will be held next Monday and Tuesday to reach an agreement on a likely extension of the deadline, Bessent told Fox Business.
“This agreement expires on August 12, and I will be in Stockholm on Monday and Tuesday with my Chinese counterparts, and we will work on what will probably be an extension of that date,” he added. Bessent repeated that Washington also wanted to discuss other issues, such as the purchase of Iranian and Russian oil by China under sanctions. As for the rest of US business partners, for which the deadline is August 1, the secretary expects the rates to increase if negotiations fail. Since returning to the White House in January, President Donald Trump has imposed a 10% universal tariff on allies and rivals, as well as higher surcharge on steel, aluminum and cars.
Dozens of countries are exposed to an increase of 10% from August 1, which in some cases is exponential. In Latin America, the US would impose 30% on Mexico and 50% on Brazil, in the latter case mainly in protest against the judgment of former far-right president, who is being tried for an alleged coup attempt in 2022. So far, Washington only reached the United Kingdom, Vietnam and Indonesia.
*With information from AFP
Posted by Fernando Dias
