Trump’s administration is poised to impose new sectoral tariffs that may affect China, together with on semiconductors, prescription drugs, ship-to-shore cranes and different merchandise.
“We’re very near a cope with China. We actually type of made a cope with China, however we’ll see how that goes,” Trump advised reporters earlier than his assembly with von der Leyen, offering no additional particulars.
DEEPER ISSUES
Earlier US-China commerce talks in Geneva and London in Could and June targeted on bringing US and Chinese language retaliatory tariffs down from triple-digit ranges and restoring the move of uncommon earth minerals halted by China and Nvidia’s H20 AI chips and different items halted by america.
Thus far, the talks haven’t delved into broader financial points. They embody US complaints that China’s state-led, export-driven mannequin is flooding world markets with low-cost items, and Beijing’s complaints that US nationwide safety export controls on tech items search to stunt Chinese language progress.
“Stockholm would be the first significant spherical of US-China commerce talks,” mentioned Bo Zhengyuan, Shanghai-based accomplice at China consultancy agency Plenum.
Trump has been profitable in pressuring another buying and selling companions, together with Japan, Vietnam and the Philippines, into offers accepting increased US tariffs of 15 p.c to twenty p.c.
Analysts say the US-China negotiations are way more complicated and would require extra time. China’s grip on the worldwide marketplace for uncommon earth minerals and magnets, utilized in every part from navy {hardware} to automotive windshield wiper motors, has proved to be an efficient leverage level on US industries.
