The US may waive 100% of duties on China
26 October 20:09
The United States is likely to refuse to impose 100% of duties on China, US Treasury Secretary Scott Bessent said in an interview with NBC News following talks with China, "Komersant Ukrainian" reports.
The official noted that Washington and Beijing could reach an agreement after “two days of talks” and a personal meeting between the leaders of the United States and China.
“President [US President Donald] Trump gave me significant leverage in the negotiations by threatening 100 percent tariffs, and I believe we have reached a very substantial basis that will allow us to avoid this and discuss many other issues with the Chinese,” the Treasury Minister said.
In October, Trump announced the introduction of a 100% tariff on all goods from China starting November 1, in addition to the existing tariffs. The US leader also announced the introduction of export controls on “critical software”.
These measures were presented as a response to China’s “extremely aggressive stance” in trade. The decision followed Beijing’s imposition of export controls on technologies for the extraction and processing of rare earth metals, where China controls 70% of the world market.
