US and Chinese trade officials held bilateral talks in South Korea on Thursday.
The US and Chinese trade officials held bilateral talks on Jeju Island, a South Korean resort, on Thursday. Last weekend, the two sides had met in Switzerland and agreed to suspend some tariffs for 90 days.
A South Korean official with knowledge of the matter said that US Trade Representative Greer and Chinese Commerce Minister International Trade Negotiation Representative Chenggang Li held talks on Jeju Island. No further details were provided, and the US Embassy in South Korea did not immediately respond to requests for confirmation of the meeting.
The ongoing truce in the US-China trade war has brought some comfort to businesses, many of which have been hit hard by rising costs due to reciprocal tariffs. However, the truce is temporary, and businesses must also consider the impact of the US announcement and subsequent suspension of "reciprocal" tariffs on South Korea, Japan, Vietnam, and other countries.
Official Chinese data showed that China's freight volume to the US fell 21% year-on-year in April after the US imposed tariffs at the beginning of the month. Imports of American goods were also affected, falling nearly 14% last month.
The significant reduction in US-China tariffs announced in Geneva may reverse this situation, as companies may now want to ship goods from China to the US as soon as possible before Washington raises import tariffs again.
Source: rfi
Original article: https://www.toutiao.com/article/1832179963595786/
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