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Trade dispute resolved? Trump and China agree on tariffs!
China and the US reach a cautious agreement on trade tariffs and rare earth export rights after negotiations in London.
Trade dispute resolved? Trump and China agree on tariffs!
In recent days there has been significant progress in the US-China trade dispute, which has both economic and geopolitical implications. After two days of negotiations in London, US President Donald Trump announced the agreement on export restrictions for rare earths on Truth Social. These raw materials are crucial to numerous industries and make negotiations particularly complex.
The Chinese Foreign Ministry was rather cautious about the details of the agreement. Foreign Ministry spokesman Lin Jian stressed that while progress has been made in resolving economic and trade concerns, no detailed information on the agreements reached has been released. China is open to “constructive cooperation” to implement the consensus from the negotiations.
Agreements on tariffs and raw materials
As part of the agreement reached, China agreed to supply certain raw materials, including rare earths, to the United States. In return, Washington assured that Chinese students would continue to be admitted to US universities. This could boost exchanges and relations between the two nations, which have been strained in recent years.
| Agreements | Details |
|---|---|
| US tariffs on Chinese goods | 55% (Previously 30% in Geneva) |
| China's tariff rate on US goods | 10% |
The agreement follows talks that took place in Geneva, where a temporary reduction in mutual import tariffs by 115 percentage points was also agreed. However, there remains uncertainty about the exact details and whether these building blocks will actually lead to a permanent solution. US Commerce Secretary Howard Lutnick indicated that a written version of the pact would not be made public, making the deal difficult to defend.
Global impact of the trade dispute
The negotiations and their course not only have an impact on the countries concerned, but also on the global economy as a whole. Chancellor Friedrich Merz welcomed the trade agreement, but emphasized that it would not be at the expense of Europe. The ongoing trade conflict between the US and China has already had a negative impact on global markets and the stability of supply chains.
Some experts warn that despite this supposed progress in the negotiations, no lasting improvement is in sight. China's role as the main producer of rare earths is being used as a strategic tool in the negotiations. Whether this can ultimately lead to a lasting solution to the conflict remains to be seen.
Overall, the course of the negotiations shows that both China and the USA are interested in reaching an agreement, but fundamental differences still exist. The coming weeks and months could be crucial for economic relations between the world's two largest economies.
For further information and deeper insights into the topic, please refer to the reports from hz.de and tagesschau.de referred.