Trade negotiations between the US and China are at a standstill, keeping high tariff levels on Chinese goods.
Trade Talks Remain Stalled
US Treasury Secretary Scott Bessent confirmed that new trade negotiations with China have not started. This statement was made during his testimony before the House Appropriations Committee.
Tariffs on Chinese Goods Stay High
Bessent reported that the situation keeps the tariff level at 145% on Chinese exports, indicating ongoing economic tensions between the countries. He also highlighted that the US remains a deficit country, importing significantly more goods from China.
Economic Consequences and Crypto Impact
The lack of trade leads to unchanged tariffs, creating economic challenges for the affected industries. Market observers note that stalled talks exacerbate macroeconomic issues. Historical data from the US-China trade war from 2018 to 2020 shows that cryptocurrencies do not experience immediate fluctuations due to such trade conflicts.
The trade negotiation situation between the US and China remains uncertain, creating challenges for the economy and keeping tariff levels on goods high.
