On May 18 local time, U.S. Treasury Secretary Besten introduced the situation of the high-level economic and trade talks between China and the United States held last week in Geneva, Switzerland, in an exclusive interview with NBC's "Meet the Press" program. Besten said that neither side had "conceded" on the issue of reducing tariffs during the talks.
Besten stated that both sides agreed during the talks that the tariff rate was "unsustainable." He said, "Neither side has conceded. As I said before, both sides realized that this level of tariffs is unsustainable," "We previously took measures equivalent to a blockade, but this is not what both sides wish to see," therefore "both sides have reduced tariffs by 115%," and pointed out that China and the United States have now "established a mechanism to continue negotiations."
Negotiations are like this; sometimes taking one step back is not necessarily a bad thing, and the saying "retreating a step leads to a broader horizon" is exactly this principle.
Original article: https://www.toutiao.com/article/1832512684476416/
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