International Trade

Duties, Ft: EU ready to make 50 billion offer to Trump. China evaluates US offer for talks

China values the start of talks with the US on tariffs, but calls for the prior removal of unilateral ones to ensure sincerity in the dialogue.

2 May 2025

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3' min read

Key points

Beijing emphasised that it was Washington that took the initiative to start the negotiations.
Duties, China "If the US wants to talk, cancel the duties"
Duties. for Japan "constructive discussions" with Trump administration
Stock market: Asia at one-month highs, China-US thaw test

3' min read

Brussels intends to increase purchases of US goods by EUR 50 billion to solve the 'problem' in trade relations. This was stated to the Financial Times by the EU's chief negotiator, Trade Commissioner Maros Sefcovic, adding that the EU is making 'certain progress' towards reaching an agreement.

Sefcovic hinted in an interview that the EU would not accept Washington maintaining 10 per cent tariffs on its products as a fair solution to the trade negotiations. The US and EU have made progress through several rounds of in-person and telephone negotiations since President Donald Trump imposed, and then suspended, 20 per cent tariffs on the Union, Šefcovic said. He added that "his ambition" remains to reach a "balanced and fair" agreement with the White House.

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"Gasoline under $1.98 a gallon, the lowest price in years, food prices down, energy down, mortgage rates down, employment is strong and lots of other good news, with billions of dollars coming in from tariffs. We are just in a transition phase. There is no inflation, the Fed should lower rates!" US President Donald Trump wrote this on Truth.

EU: no formal offer to US for now but commitment to agreement

"No formal offer has been made to the US at the moment". This was stated by European Commission spokesman Olof Gill in the daily press briefing, responding to a question about press rumours that Brussels would be ready to increase its purchases of US goods by EUR 50 billion. "So far we have discussed the areas where we, for our part, believe we can potentially reach an agreement," he added. "Therefore, we must firmly emphasise that we are fully involved in our discussions with the United States and that the negotiated solution remains our clear and preferred outcome. We will not comment in detail on the current negotiations, but we are absolutely committed to finding mutually beneficial agreements with the US'.

China willing to consider starting negotiations with the US on tariffs

The Chinese Ministry of Commerce stated that the country is considering trade talks with the US, while emphasising that any dialogue must be sincere and preceded by the removal of unilateral tariffs.

Beijing pointed out that it was Washington that took the initiative to start the negotiations.

Duties, China: 'If the US wants to talk, cancel the duties'

Senior US officials have recently contacted the parties concerned 'several times' in the hope of starting negotiations with China, a Chinese Ministry of Commerce spokesman explained. But 'if the US wants to talk, it should show its sincerity and be ready to correct its bad practices and cancel unilateral tariffs,' the statement read.

Trump imposed 145% tariffs on imported Chinese goods, prompting China to impose 125% retaliatory tariffs.

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Duties. for Japan "constructive discussions" with Trump administration

Japan's negotiator in charge of finding a solution to US tariffs said he had had "frank and constructive discussions" with the Trump administration in Washington yesterday as Tokyo prepared for possible concessions, evoking the "weapon" of Treasury bonds. Japan has been targeted since early April by US tariffs of 25% on cars and steel, with cars accounting for nearly 30% of Japanese exports to the US. Japan threatened to impose 'reciprocal' tariffs of 24%, a measure that was suspended until the beginning of July. A minimum tax of 10% already applies.

A next round of 'intensive ministerial negotiations' is scheduled to begin in mid-May, said Akazawa, who hopes to conclude a 'comprehensive agreement' covering all topics in June.

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Stock market: Asia at one-month highs, evidence of China-US thaw

Asian stock exchanges rose to their highest levels in more than a month after China opened up to the possibility of negotiating with the United States provided they show they are "ready to correct their bad practices and cancel unilateral tariffs". Tokyo advanced 1.2 per cent, Hong Kong 1.7 per cent, Sydney 1.1 per cent, Seoul 0.7 per cent while the Chinese stock markets of Shanghai and Shenzhen were closed for holidays.