China Intends To Start Trade Negotiations With United States
(MENAFN- AzerNews)
By Alimat Aliyeva
China intends to begin trade policy negotiations with the United
States, based on agreements made with the first administration of
U.S. President Donald trump in 2020, Azernews
reports.
According to sources, in order to avoid a full-scale trade war,
China aims to return to the "Phase One" agreements reached during
Trump's first term, which included commitments to increase imports
from the United States by $200 billion. Beijing plans to negotiate
within the framework of the World Trade Organization (WTO) and is
also looking to boost investments in the U.S. economy, particularly
in electric vehicle battery production. Furthermore, China intends
to abandon the artificial depreciation of the yuan, as reported by
the Wall Street Journal (WSJ).
Earlier, the Ministry of Commerce of the People's Republic of
China stated that it would file a complaint with the WTO over the
U.S.'s imposition of tariffs on Chinese goods. The ministry also
expressed hope that the United States would "objectively and
rationally address its internal issues, rather than threatening
other countries with tariffs."
Trump signed an executive order imposing tariffs on goods from
Canada, China, and Mexico. According to the order, duties of 25%
were placed on imports from Mexico and Canada, with 10% tariffs
specifically on Canadian energy resources. In addition, a 10%
tariff was imposed on goods from China. Together, Canada, China,
and Mexico represent about a third of all goods and services
imported by the United States. In 2023, the combined exports from
these three countries to the U.S. amounted to nearly $1.5
trillion.
This trade shift highlights the ongoing complexity of U.S.-China
relations and the broader international trade landscape. As both
nations navigate the fallout from the trade war and look for ways
to stabilize their economic interactions, the outcome of these
negotiations could significantly influence global markets and
international trade dynamics in the coming years. Interestingly,
this also underscores the importance of multilateral forums like
the WTO, where both sides may seek common ground amidst the growing
challenges of global supply chains and shifting economic power.
MENAFN03022025000195011045ID1109163097
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.