A gesture follows another. President Donald Trump now decides to delay the entry into force of the announced increase in tariffs for imported products worth $ 250 billion by two weeks. The plan was to raise them from the current 25% to 30% as of October 1. Instead it will be done on October 15. Beijing said Wednesday that it exempted 16 imported US products from the tax it was going to apply in response to Washington's protectionist actions.
Trump explains in a message on social networks that it is a “gesture of goodwill” and that the decision responds to a request made by Chinese Deputy Prime Minister, Liu He, the main negotiator, because the tariff was going to take effect coinciding with the celebration of the 70th anniversary of the People's Republic. This morning, in another tweet, he thanked that goods such as medicines, lubricants and pesticides were exempt from Chinese tariffs.
The president of the United States decided to raise tariffs after August 23, China formalized that it had plans to apply the customs tax on imported products worth 75,000 million, in response to the levy that was activated on September 1. Trump accepted, due to the pressure of the large multinationals, to limit the tariff and thus give room for them to resume negotiations for a possible agreement.
This September is scheduled to hold technical meetings, to prepare a ministerial level to be held in Washington next month. US Treasury Secretary Steven Mnuchin says there is a "conceptual agreement" with China, which will serve as a basis for further progress on key points in the discussions. But at the same time, he says that Donald Trump has no problem continuing to raise tariffs.
The double gesture of China and the US in less than 24 hours is interpreted as an effort to facilitate discussions, but it also represents an attempt by both parties to limit the economic impact of a trade dispute that lasts more than a year. Liu He is the main Chinese negotiator and one of the most trusted people of President Xi Jinping. Donald Trump, facing his bases, is convinced that tariffs do more harm to China than to the United States.
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