US President Donald Trump decided to extend the relaxation with Beijing on the customs duties, a few hours before the theoretical end of this truce between the two powers.
The Head of State signed a decree to formalize the extension of this truce, specifying in a message on his social social network that all the other elements of the agreement remained “identical”.
China “continues to take important measures (…) to respond to the United States concerns about economic and national security,” the American president wrote in his decree, adding that he determined that it “was necessary and appropriate to maintain” this truce until November 10, 2025.
About at the same time, the official Chinese Chinese news agency Xinhua published a joint declaration from Sino-American negotiations in Stockholm, announcing that China would also extend its truce.
China will continue to suspend its previous increase in customs duties for 90 days from August 12, while retaining a surcharge of 10%, according to this source.
Committed to the spring in a commercial confrontation with exorbitant customs rights, a three -digit percentage, Beijing and Washington had ended up concluding a 90 -day truce in May in Geneva.
This agreement has temporarily set the US surcharge on Chinese products at 30%, while Beijing Taxes on American products amount to 10%.
Several cycles of negotiations involving senior officials on both sides then took place in London and then Stockholm, to avoid a new embraces and keep the truce on the rails.
Earlier in the day on Monday, Donald Trump said that the negotiations were going “pretty good”.
“The relationship between President XI (Jinping) and I is very good,” said the head of state to the press from the White House.
Beijing had reported for his part wishing a “positive” outcome in negotiations with Washington.
“We hope that the United States will work with China to respect the important consensus reached during the telephone interview between the two heads of state [en juin, NDLR]… And will endeavor to obtain positive results on the basis of equality, respect and mutual benefit, “said the spokesman for the Ministry of Foreign Affairs, Lin Jian, in a statement.
The American representative on trade, Jamieson Greer, had declared, after negotiations in Sweden, that Donald Trump would have the “last word” on any extension of a pricing truce.
– American soybean promoter –
The American president seemed determined to obtain last -minute concessions.
During the night from Sunday to Monday, he published a message on his Truth Social platform, calling China to “quadruple its American soy purchases”.
“China is concerned about lacking soybeans. Our brilliant farmers produce the best soybeans,” wrote Donald Trump, saying that this would also make it possible to “significantly reduce” the trade deficit in the United States with China, via a jumper of Chinese imports.
He concludes a “thank you president XI”.
The American president also said on Monday, via a press release, that gold would remain exempt from the new customs duties he implemented.
After an article by the Financial Times and the publication of an American customs document, investors were worried at the end of last week to see certain ingots ultimately taxed. The precious metal had then crossed a new record.
Since his return to power in January, the American president has implemented, in several waves, new surchastens on the products entering the United States.
These range from 10 to 50% depending on situations and countries, not to mention customs duties that are in particular sectors (automobile, steel, aluminum, copper).
The Head of State threatens to impose others in the name of the protection of national industry (on pharmaceutical and semiconductors, in particular) or to reprimand countries for political reasons.
Posted on August 12 at 07:57 am, AFP
