Duties, US-China de-escalation. What will happen in the future?
Agreement on a 90-day moratorium. He Lifeng and Scott Bessent, the two delegation leaders, will continue this process of returning to more reasonable reciprocal tariff levels
3' min read
3' min read
The United States and China have agreed on a 90-day moratorium on the application of the new tariff mechanism triggered by the Americans as of 2 April, with a significant reduction of those already in force, the measure of which is to be finalised very soon, by the day after tomorrow, Wednesday 14 May.
The Swiss Turning Point
.Recall that tariffs had jumped to 145% for China and 125% for the US. Now it is He Lifeng and Scott Bessent, the two heads of delegation, who will continue this process of returning to more reasonable reciprocal tariff levels.
This brings to an end a negotiation that lasted an entire weekend, on a neutral ground, in Switzerland's diplomatic headquarters at the UN and followed by the rest of the world with bated breath.
The solution reached - suspension for three months and new tariff limits relaxed - shows how difficult it is for everyone to endure the global trade blockade between the US and China. Unlike other countries that in the meantime, such as Great Britain, have reached a new agreement with the White House, the tariffs between China and the US were already in place, without any moratorium.
Scheduled De-escalation
.Beginning on 14 May, the day after tomorrow, the parties pledged, the White House communiqué said, to take up the issues in detail, recognising 'the importance of sustainable, long-term and mutually beneficial economic and trade relations....moving forward
