WASHINGTON / LONDON (IT BOLTWISE) – The trade conflict between the USA and China continues to escalate. US President Donald Trump has described the punitive tariffs he has threatened on Chinese goods as ‘unsustainable’. Despite the harsh rhetoric, there are signs of possible detente with talks planned between the two countries.
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The trade conflict between the US and China has reached a new level of escalation after US President Donald Trump described the punitive tariffs he threatened on Chinese goods as ‘unsustainable’. These tariffs, which impose a 100 percent increase on certain Chinese products, were announced by Trump in response to China’s export controls on rare earths. These raw materials are crucial for the production of technologies in both the civil and military sectors.
The announcement of the tariffs came after China tightened its control over rare earth exports. These raw materials are of strategic importance to the United States because they are essential in the production of high-tech devices and military equipment. Trump explained that the Chinese government forced him to take this drastic measure to protect US interests.
Amid these tensions, however, there are signs of possible easing. Trump confirmed that he would soon meet Chinese President Xi Jinping to discuss the trade conflict. In addition, talks have already taken place between the US Treasury Secretary and his Chinese counterpart, which were described as open and constructive. Both sides said they were willing to continue negotiations to find a solution.
The international community is watching developments with concern. World Trade Organization chief Ngozi Okonjo-Iweala warned of the long-term effects of decoupling the world’s two largest economies. Such a development could have a significant impact on global economic performance. Despite the ongoing talks, the situation remains tense as both sides continue to exchange accusations and criticize each other’s trade practices.
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