Tariffs, China and US towards 90-day truce extension
To ease tensions, the US has frozen restrictions on chip exports. Group of US business ambassadors in China this week
2' min read
2' min read
Donald Trump's black beast remains China. So to close the tariffs game, delegations from the two blocs quartered, after Geneva and London, in Rosenbad, Stockholm, the iconic palace of the Swedish government.
The main objective is to suspend tariffs for another 90 days, as the American-imposed final date of 12 August is already around the corner.
But the feverish negotiations are struggling to find solutions to China's industrial overcapacity and, hence, the endemic imbalance in the trade balance that still marks a huge advantage for Beijing at the expense of Washington. The Americans, as already envisaged in phase 1 of the bilateral agreement signed in Trump's first term, would like China to buy more American goods, but the prospect seems far off and hardly feasible.
Also on the Swedish table are possible solutions to the fentanyl crisis in the US, China's oil deals with Russia and Iran.
Both sides are also working on securing a visit to China by the US president before the end of the year, the hypothesis of a trip in September seems impractical. Recall that Donald Trump visited Beijing in 2017, his first Chinese state visit while taking his first steps in the White House.
