China is a “important step” trade negotiations with the United States

China On Saturday, he described a “important step” commercial talks with the United States this week in Geneva, the first since Donald Trump launched a world -scale tariff war.

On the part of the United States, Treasury Secretary, Scott Besent, and the United States Trade Representative, Jameson Jarir.

China is the Chinese Deputy Prime Minister, Living.

“The party that was created in Switzerland is an important step to enhance the solution to the problem,” a comment published by the official news agency Xinhua, without providing details about the progress of the negotiations.

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The meetings started on Saturday in a luxurious chalet for the permanent representative of Switzerland against the United Nations in Geneva and ended at approximately 20:00. On Sunday it will resume.

On Friday, US President Donald Trump suggested reducing the customs tariffs to Chinese products to 80 percent, a gesture before starting negotiation.

“The president would like to solve the problem with China (…) the situation,” said Houard Minister of Commerce, Howard Lootnick on Fox News.

Trump’s reduction is the symbol first because at this level the definitions still have a significant impact on Chinese exports to the United States.

From his return to the White House in January, Trump turned definitions to a political weapon and initially announced 145 percent of the tariff to China, which adds to those who were already present.

Beijing promised to fight “to the end” and responded by 125 percent of American products.

The result is that the bilateral trade between the two global economies has been stagnated and that the markets have suffered from a major turmoil.

Step “constructive”

The General Manager of the World Trade Organization (WTO), Ngzi Okonjo-Iwela, said that the discussions in Geneva are “a positive and constructive step towards reducing climbing.”

In mid-April, Okonjo-Eyala was “very concerned” and estimated that even if the trade between China and the United States “represents only about 3 % of the global goods trade, the” main economy “separation can have great consequences.

The President of Switzerland, Karen Keeler Street, linked the selection of Pope Liu XIV to the negotiations.

“The Holy Spirit was in Rome. We must expect to come to Geneva during the weekend,” he said on Friday.

The Chinese Deputy Prime Minister, who was Liveng, reached negotiations with the good fact that China increased its exports by 8.1 percent in April, a four -time number of those planned by analysts.

In parallel exports to the United States, about 18 percent decreased.

Nevertheless, the White House press secretary, Caroline Levitte, warned that Trump “will not reduce definitions unilaterally to China” and asked “concessions.”

According to Buni Glaser, director of the India and Pacific Program at the Group of Experts at the German Marshall Fund, “The possible result of discussions in Switzerland will be an agreement to suspend the majority, if not all, the customs duties imposed this year during the duration of bilateral negotiations,” according to Bonnie Glaser, Director of the India and Pacific Program at the Group of Experts at the German Marshall Fund,.

For his part, Lizi Lee, a Chinese economist at the Asia Association Policy Institute, expects a “symbolic and temporary gesture”, which can “reduce tensions, but do not solve basic differences.”

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Shaw Ben, a professor at the Chinese International College of Europe (CEIBS) in Shanghai, fears that the customs tariff is not due to a “reasonable level”.

He says: “Even if they fell, it is likely to be in the middle of the road, and again, they will be very high that they do not have a regular trade,” he says.

With AFP information.