US-China trade warfare: Donald Trump’s Treasury | Australian Markets
US President Donald Trump’s crew are reportedly set to satisfy with senior Chinese officers to debate trade and tariffs as a bitter financial warfare continues.
CNBC reported that Mr Bessent and Jamieson Greer, a prime trade official with the Trump Administration, would meet with Chinese officers in Switzerland later this week.
The development comes after Mr Bessent stated the federal government might announce trade agreements with some of the United States’ largest trade companions as early as this week.
He stated the Trump Administration was negotiating with 17 main trading companions.
He stated many trading companions have made superb gives and US officers had been within the course of of “re-negotiating” these now.
“I expect that we can see a substantial reduction of the tariffs that we are being charged as well as non-tariff barriers, currency manipulation and subsidies, both labour and capital investment,” he advised the House Appropriations Committee.
Mr Trump and his prime officers have engaged in a flurry of conferences with trading companions for the reason that president on April 2 imposed a 10 per cent tariff on most international locations together with greater tariff charges for a lot of trading companions that had been then suspended for 90 days.
– with Reuters
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