Trump's tariff conflict is going to make China great again
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Beijing is trying to win over other countries with vows of economic cooperation. But it won’t back down from its territorial claims, experts predict.
As the U.S. and China negotiate a trade deal, Trump has lowered a levy on “de minimis” low-value packages, such as online shopping from Shein or Temu.
China will lower its tariffs on U.S. goods to 10% for an initial 90 days starting from 12:01 pm (0401 GMT) on Wednesday, Chinese finance ministry said in a statement on Tuesday.
The world’s two biggest economies agreed to a temporary rollback of most of their recent levies after negotiating in Switzerland over the weekend.
Chinese leader Xi Jinping has taken aim at “bullying” and “hegemonism,” in his first public remarks since a temporary truce over tariffs was agreed in the trade war between the United States and China.
The agreement is pressuring manufacturing hubs such as Vietnam and Mexico to make their own, better deals with the United States.
Negotiators from both sides have agreed to establish a dialogue mechanism for further talks, and US President Donald Trump says he will speak to his Chinese counterpart Xi Jinping soon.