US, China tariffs need to fall for trade talks to start, US secretary Bessent says

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US Treasury Secretary Scott Bessent said on Wednesday that he believes that excessively high tariffs between the US and China will have to come down before trade negotiations can proceed.

Bessent told reporters on the sidelines of International Monetary Fund and World Bank annual meetings that de-escalation was necessary for the world’s two largest economies to rebalance their trading relationship.

Asked whether that meant a reduction in the 145% US tariffs on Chinese goods and China’s 125% tariffs on US goods, Bessent said: “I think that has to be,…



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US, China tariffs need to fall for trade talks to start, US secretary Bessent says


US Treasury Secretary Scott Bessent said on Wednesday that he believes that excessively high tariffs between the US and China will have to come down before trade negotiations can proceed.

Bessent told reporters on the sidelines of International Monetary Fund and World Bank annual meetings that de-escalation was necessary for the world’s two largest economies to rebalance their trading relationship.

Asked whether that meant a reduction in the 145% US tariffs on Chinese goods and China’s 125% tariffs on US goods, Bessent said: “I think that has to be,…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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