Amid a complex trade relationship between the U.S. and China, Chinese minister Li Lecheng highlighted the importance of collaboration with American companies despite ongoing tariff disputes.
U.S. Delegation Visit to China
Li Lecheng met with a delegation led by FedEx CEO Rajesh Subramaniam, who also serves as the chair of the U.S.-China Business Council. Attendees included representatives from Apple, Thermo Fisher Scientific, and Otis Worldwide. Li outlined advancements in China's machinery sector and emphasized the country's shift towards smart manufacturing.
Negotiations in Stockholm
Meanwhile, U.S. Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng held trade discussions in Stockholm. The agenda included tariffs related to drug trafficking, China's oil purchases from Russia and Iran, and semiconductor issues. After two days of meetings, U.S. Trade Representative Jamieson Greer stated that no immediate deal was reached regarding the extension of tariff pauses.
Risks for Tariffs and Next Steps
Chinese trade negotiator Li Chenggang mentioned that both sides would continue to push for an extension of the tariff pause. However, U.S. officials cautioned that current tariff rates could revert to higher levels unless an extension is granted. If no extension occurs, tariffs on Chinese imports would automatically rise to 30%, while U.S. goods would see rates increase to 10%.
The trade discussions between the U.S. and China raise significant questions surrounding tariffs and economic cooperation, yet final decisions rest with the leadership of both countries.
