The speculation that the trade war between China and the USA could be resolved peacefully has intensified once again.
On May 10-11 of this year, representatives of the two countries held talks in Geneva and agreed to create a separate consultation mechanism on trade and economic issues.
The meeting was attended by a delegation from China headed by the Deputy Chairman of the State Council, He Lifeng, and from the USA - by the Minister of Finance, Scott Bessent, and the Trade Representative, Jason Greer.
He Lifeng stated that the parties are working to implement the agreements reached at the last summit.
He emphasized that China does not want a trade war, but if the US continues to exert pressure, retaliatory measures will be taken.
"We need stable and healthy economic relations, which is important not only for China and the USA, but for the whole world," he said.
The US side also positively assessed the negotiations. According to Greer, the agreement will reduce the US trade deficit. President Trump called the negotiations "constructive" and said that the opening of the Chinese market to American companies would be beneficial for both sides.
For information, in recent years, tariffs between the two countries have caused serious pressure. The US imposed tariffs of up to 125% on Chinese goods, while China responded with an 84% tariff. Now, the fact that the parties are choosing a negotiation path can serve to ease economic tension.
It's good that the dialogue has begun, but this is not the end. The decision of the parties directly affects the fate of the world economy.
