US and China want to de-calate, not disconnect

The United States and China do not want ‘decoupling’ of their economies. The two superpowers suspended a large part of the mutual levies for 90 days last weekend. It is an important de-escalation of the trade war.

For the past six weeks they have put each other up in a kind of hare over increasingly higher import duties. Most of them are not in force. The American taxes on Chinese goods are currently reduced by the announced 145 percent to 30 percent. China lowers the taxes from 125 to 10 percent. The new agreements will start on 14 May.

The next three months will be used to negotiate the mutual economic relationships. According to Scott Bessent and the American trade representative Jamieson Greer, the atmosphere was good during the conversations. The Chinese delegation was led by vice-president He Lifeng.

The joint statement is here To read. It starts with the determination that the bilateral trade relationship is of great importance for both countries and the world economy as a whole.

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