USChinaTariffsTalk

#USChinaTariffsTalk
Ice is melting🫠 on US China Tariff Talks:
Development may be indication China is softening on beginning negotiations over American 145% tariffs
The US has approached China seeking talks over Donald Trump’s 145% tariffs, a social media account affiliated with Chinese state media has said, potentially signalling Beijing’s openness to negotiations.
“The US has proactively reached out to China through multiple channels, hoping to hold discussions on the tariff issue,” Yuyuan Tantian reported in a post published on its official Weibo social media account, citing anonymous sources.
US officials, including the Treasury secretary, Scott Bessent, and White House economic adviser Kevin Hassett, also expressed hope for progress in easing trade tensions.
Hassett told CNBC that there had been “loose discussions all over both governments” about the tariffs and that China’s easing of duties on some US goods last week was a sign of progress.
Beijing has made little effort to contain its anger at the tariffs, which it says are tantamount to bullying and cannot stop the rise of the world’s second-largest economy. Instead, it has directed its fury at rallying public and global condemnation of the import curbs – showing no interest in a reprieve.
That said, alongside leveraging its propaganda machine to hit back at the duties, China has quietly created a list of US-made products it will exempt from its retaliatory 125% tariffs, including select pharmaceuticals, microchips and jet engines, to ease the duties’ impact.
Bessent mentioned no specific talks during a Fox Business Network interview, but said that high tariffs of 145% on the US side and 125% on the Chinese side needed to be de-escalated for negotiations to begin.
“I am confident that the Chinese will want to reach a deal. And as I said, this is going to be a multi-step process,” Bessent said. “First, we need to de-escalate, and then over time, we will start focusing on a larger trade deal.”
He said that among the first steps would be to revisit China’s failure to make good on purchase commitments for American goods made as part of Trump’s 2020 “Phase 1” trade deal that ended his first-term trade war with Beijing.
That deal called for China to increase purchases of American manufactured and agricultural products and services by $200bn annually over two years, but the Covid pandemic hit just after its signing.
“China needs to observe closely, even force out the US’ true intentions, to maintain the initiative in both negotiation and confrontation.”
Trump said in a US media interview published last Friday that his administration was talking with China to reach a tariff deal and that the Chinese president,had called him. Beijing last week repeatedly denied such talks were taking place, accusing Washington of “misleading the public”.
Chinese officials have consistently stated that Beijing is open to talks, with the caveat that “dialogue and negotiation must be based on equality, respect and mutual benefit.”
Trump said on Wednesday he believed there was a “very good chance” his administration could do a deal with China, hours after Xi called on officials to take action to adjust to changes in the international environment, without explicitly mentioning the US.
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#USChinaTariffsTalk
US President Donald Trump speaks after the first day of US-China talks in Geneva, Switzerland.
Tump reported that a positive meeting was held with China in Switzerland. He said that great progress was made in the talks with China. He added that many issues were discussed and agreed upon. He also stated that the possibility of restarting relations in a friendly manner was also discussed.
Tump says he wants China to open up to American business opportunities.
I addition, there are some developments in the war between Ukraine and Russia. Putin gave the order for the Ukraine talks to begin in Istanbul on May 15. He stated that he wanted to hold serious talks with Ukraine. He called on Ukraine to make a decision immediately.
*Ts is not investment advice*.

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#USChinaTariffsTalk
On Friday morning, a spokesperson for China's ministry of commerce announced that Beijing was assessing the possibility of tariff negotiations with the United States.
It was news the rest of the world had been waiting to hear as astonishingly high tariffs - up to 245% on some Chinese exports to the US - throttle trade between the world's two biggest economies, raising the spectre of a recession.
"US officials have repeatedly expressed their willingness to negotiate with China on tariffs," the spokesperson told reporters.
"China's position is consistent. If we fight, we will fight to the end; if we talk, the door is open... If the US wants to talk, it should show its sincerity and be prepared to correct its wrong practices and cancel unilateral tariffs."
The statement comes a day after a Weibo account linked to Chinese state media said the US had been seeking to initiate discussions, and a week after Trump claimed discussions were already underway – a suggestion Beijing denied.
"China has no need to talk to the United States," Yuyuantantian, a Weibo account affiliated with China Central Television (CCTV), said in Thursday's post. "From the perspective of negotiations, the United States must be the more anxious party at present."
Such comments follow a cycle of assertions and denials from both the US and China, as each side refuses to publicly initiate discussions.
The question is not whether those discussions will take place, but rather when, under what circumstances and at whose behest.
Ja Ian Chong, an assistant professor of political science at the National University of Singapore, notes that the ongoing exchanges are expected since neither Washington nor Beijing wants to appear as the one conceding. 
He adds, 'However, a reduction in tensions would ultimately benefit both parties, providing a significant incentive for them to pursue it.' Wen-Ti Sung, affiliated with the Australian Centre on China in the World, likens the situation to two race cars heading towards each other: the first to veer off course will be perceived as the weaker competitor. Currently, neither side is willing to appear lenient. 
The leader who acknowledges being the first to propose tariff discussions risks being viewed as compromising their negotiation stance. 'The party that appears most desperate forfeits bargaining power,' Mr. Sung explains. 'Both sides aim to depict the other as the more needy one.'
A victory on our home turf:
Trump clearly aims to demonstrate that he has forced Beijing to yield. On the other hand, Xi likely seeks to prove to his citizens and the global community that he has managed to influence Trump towards a more reasonable and accommodating stance," Mr. Chong remarks.
Domestically, both leaders are grappling with challenges stemming from tariffs. This week, Trump faced difficulties in alleviating recession fears as new data revealed that the US economy shrank in the first quarter for the first time since 2022.
Simultaneously, Xi, who was already contending with low consumer spending, a property crisis, and rising unemployment before the tariffs, must reassure the Chinese populace that he can navigate the trade war and safeguard an economy struggling to recover from the pandemic.
"Both Trump and Xi understand that at this stage of the trade war, a winner-takes-all scenario is no longer feasible for either side," Mr. Sung observes.
"Trump recognises he's not going to get anywhere near 100% of what he wants, so he's trying to find a concession point where China can let him have just enough winning, especially for domestic purposes."
While China is not unwilling, he adds, "they are very much stuck on what's the right price point".
"The China side needs to manage US-China bilateral negotiations, while domestically Beijing needs to save enough face so that the Chinese leadership can hold on to this narrative of 'the East is rising and the West is declining'," he says.
"A kowtowing of the East towards the West is not a rising East."
"The two sides are talking," he says. "And that is a sign that there is some possibility that some accommodation could be reached."
But the start of negotiations does not mean that the US-China relationship - which was rocky even before Trump kicked off a trade war - is close to being steadied.
Mr Chong isn't holding his breath. For one, he believes the "posturing" suggests the two sides have not reached the point "where they are both trying to seek a way out".
"[Each party] may hope that there are concessions from the other side, so they're going to have this standoff until they see which side blinks first."
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