This dialogue is considered less likely to have a major agreement, but experts believe that the US and China may cut tariffs to some extent. If this happens, it can provide great relief to global financial markets and companies dependent on US-China trade. Significantly, after US President Donald Trump imposed heavy tariffs on imports, China also retaliated and increased the fees on US products, causing a situation of trade war between the two countries.
Following the Trump government’s decision, China also announced a tariff against the US in April. At present, the US has imposed a tariff of up to 145 percent on China, while China has implemented a tariff of up to 125 percent on the US. Earlier, China had indicated that it was considering the US proposals to reduce tariffs. Talks in this direction can prove to be an important step towards reducing the tariff war running between the world’s two largest economies.
