#贸易战缓和 China-US Tariff Negotiations Break the Ice, Glimmers of Hope in the Global Market

After ten hours of closed-door negotiations in Geneva, the Chinese and US delegations shook hands and reached an agreement. This decade-long trade battle has finally shown signs of thawing.

At the negotiation table, the Chinese side firmly upheld its bottom line: the cancellation of all new tariffs is non-negotiable, and political coercion is absolutely unacceptable. In response to the US pressure to link the fentanyl issue with tariffs, the Chinese side directly revealed its strategic resource card of rare earths, forcing the White House to adjust its strategy.

The US initially proposed a 145% tiered tariff reduction plan, while the Chinese side used WTO rules as a shield, exposing the lie of 'equivalent tariffs' with data: 37% of the surplus China had with the US over the past five years was actually profits returned from US companies operating in China. When the US suddenly adjusted the tariff reduction from 80% to 34%, the Chinese side demonstrated strategic composure and only responded the next morning, ultimately leading to the establishment of a normalized consultation mechanism co-hosted by He Lifeng and Bessenet.

This marathon negotiation was filled with competition: from fierce clashes on the first day to mediation amidst the aroma of coffee on the second day, from Trump's strong statements on social media to the cautious wording of the joint statement 'substantial progress', every detail highlighted the great power struggle. Although the specific terms have not yet been made public, the US Treasury Secretary's statement of 'effectiveness' has already made the market sense that tariffs might be reduced to below 50%.