Reported 2 days ago
U.S. Treasury Secretary Scott Bessent stated that the high tariffs imposed by both the U.S. and China need to be mutually reduced before trade talks can commence. He emphasized that current tariff levels, which stand at 145% for Chinese goods and 125% for U.S. goods, are unsustainable and function like an embargo. Bessent dismissed reports that the Trump administration is contemplating unilateral tariff cuts and noted that any negotiations would occur at the highest levels between President Trump and President Xi Jinping.
Source: YAHOO