U.S. Treasury Secretary Besant on the 23rd said that before the U.S. and China can start negotiations, they must first reduce the high tariffs imposed on each other's goods, and the U.S. government will not unilaterally lower tariff rates.
He stated that the U.S. has "not yet" started negotiations with China regarding tariffs.
However, Besant’s statement seems to differ from what White House spokesperson Levitt said at a press conference on the 22nd. Levitt said at the time: "We are making very good progress in discussing a potential trade agreement with China."
Besant pointed out to the media that both the U.S. and China must ease tensions and believes that both sides are waiting for dialogue.
He said that before negotiations begin, the U.S. and China must first lower the astonishingly high tariffs on each other's goods.
He stated that neither the U.S. nor China believes the current high tariffs can be sustained.
The U.S. currently imposes a 145% tariff on many Chinese imported goods, with cumulative tariffs on some goods even reaching 245%, while China has raised tariffs on U.S. goods to 125%.
Besant said: "This is equivalent to an embargo, and a trade interruption between the two countries is in no one's interest."