EconomicDiplomacy
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šØ BREAKING: US-China Trade Talks Yield
āSubstantial Progressā in Geneva! šš¤
After two intense days of negotiations in Switzerland, the US and China have agreed to establish a new trade consultation mechanism aimed at easing the trade war tensions that have disrupted global markets. While exact tariff cuts remain under wraps, officials are optimistic about the ādealā to reduce the US trade deficit and pave the way for future cooperation. šŗšøšØš³
Treasury Secretary Scott Bessent called the talks āproductiveā and āa very important first step,ā with a joint statement expected on May 12. This could mark a turning point in the longest-running trade conflict between the worldās two largest economies. šš
š Date: May 11, 2025
š Source: Reuters, Politico, CNN
#USChinaTrade #GenevaSummit #ETHCrossed2500 #EconomicDiplomacy
āSubstantial Progressā in Geneva! šš¤
After two intense days of negotiations in Switzerland, the US and China have agreed to establish a new trade consultation mechanism aimed at easing the trade war tensions that have disrupted global markets. While exact tariff cuts remain under wraps, officials are optimistic about the ādealā to reduce the US trade deficit and pave the way for future cooperation. šŗšøšØš³
Treasury Secretary Scott Bessent called the talks āproductiveā and āa very important first step,ā with a joint statement expected on May 12. This could mark a turning point in the longest-running trade conflict between the worldās two largest economies. šš
š Date: May 11, 2025
š Source: Reuters, Politico, CNN
#USChinaTrade #GenevaSummit #ETHCrossed2500 #EconomicDiplomacy
š„EU Dangles ā¬50 Billion Trade Deal to Dodge Tariff Showdown with U.S.ā¦ļø
In a strategic move to defuse rising tensions, the European Union has proposed a ā¬50 billion trade offer to the United States, aiming to avert a looming tariff war. The deal would see the EU ramp up imports of key American goodsāincluding LNG, soybeans, and agricultural productsāin an effort to shrink the trade imbalance that Washington has long criticized.
āIf the ā¬50 billion deficit is the issue, we can resolve it quickly,ā said EU Trade Commissioner MaroÅ” Å efÄoviÄ.
However, the EU is standing firm against the recently announced 10% U.S. tariffs, rejecting them as unjust and unbalanced. Instead, Brussels is pushing for a cooperative solution before the tariffs kick in this July. A potential 20% retaliatory tariff has been paused for now, allowing a 90-day window for negotiations.
Still, the EU isnāt leaving anything to chance. It has a ā¬21 billion retaliatory tariff package ready to goātargeting U.S. products like Harley-Davidsons, poultry, and clothingāshould talks collapse by the July 14 deadline.
At the same time, Europe is keeping the door open for broader cooperation with Washington, especially on challenges like Chinaās steel overcapacity and global tech competition.
Å efÄoviÄ summed it up: āWe prefer diplomacy, but weāre fully prepared to respond.ā
#EUTariffStrategy
#USTradeTalks
#GlobalTradeTensions
#EconomicDiplomacy
In a strategic move to defuse rising tensions, the European Union has proposed a ā¬50 billion trade offer to the United States, aiming to avert a looming tariff war. The deal would see the EU ramp up imports of key American goodsāincluding LNG, soybeans, and agricultural productsāin an effort to shrink the trade imbalance that Washington has long criticized.
āIf the ā¬50 billion deficit is the issue, we can resolve it quickly,ā said EU Trade Commissioner MaroÅ” Å efÄoviÄ.
However, the EU is standing firm against the recently announced 10% U.S. tariffs, rejecting them as unjust and unbalanced. Instead, Brussels is pushing for a cooperative solution before the tariffs kick in this July. A potential 20% retaliatory tariff has been paused for now, allowing a 90-day window for negotiations.
Still, the EU isnāt leaving anything to chance. It has a ā¬21 billion retaliatory tariff package ready to goātargeting U.S. products like Harley-Davidsons, poultry, and clothingāshould talks collapse by the July 14 deadline.
At the same time, Europe is keeping the door open for broader cooperation with Washington, especially on challenges like Chinaās steel overcapacity and global tech competition.
Å efÄoviÄ summed it up: āWe prefer diplomacy, but weāre fully prepared to respond.ā
#EUTariffStrategy
#USTradeTalks
#GlobalTradeTensions
#EconomicDiplomacy
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