US-China trade talks do not give any success to resume on Sunday
According to an associate press report, the United States and China held direct trade talks in Geneva on Saturday on Saturday, with the expectation of continuing to continue on Sunday, the Associated Press reported. Meetings are part of efforts to reduce stresses that have triggered standing tariff hikes and increased economic uncertainty worldwide. US Treasury Secretary Scott Besant and trade representative Jaimison Greer met with the Chinese Vice Premier, which is a lifestyle in a closed door session in the 18th -century Haveli Villa Saladin, owned by the Swiss government. Officials from both sides confirmed that the talks lasted for more than ten hours. There was no success after Saturday’s discussion.
Donald Trump’s administration has jointly increased the tariff on sugar goods by 145%. In response, China imposed 125% tariffs on American imports. These steep tariffs are causing disruption in industries that rely on trade between the world’s two largest economies, companies and consumers are already feeling a pinch. Trump defends the tariff, saying that they are necessary to address China’s unfair trade practices and reduce the US trade deficit. He also tied 20% tariffs for China’s alleged role in the Fentaneel crisis. The US President recently stated that 80% of tariffs seem “right,” except for final decisions. Business experts doubt a success, but even a small compromise to return the tariff will be a positive step. In 2020, the talks signed a partial deal – “Charan Ek” – which separated during the epidemic.
