U.S. Treasury Secretary: China is seriously assisting the U.S. on the fentanyl issue
On May 12th, U.S. Treasury Secretary Janet Yellen told CNBC in an interview that during the weekend talks between China and the U.S., there was a "lengthy and in-depth" discussion about fentanyl. She said, "I think what we've seen in Geneva is that China is now seriously assisting us in preventing the circulation of precursor drugs.
"We do not want to fully decouple from China, but we do want to decouple in strategic essentials because we couldn't get the resources we needed during the pandemic and realized that an efficient supply chain does not necessarily mean a resilient one."
Yellen explained that the tariffs reduced by both sides this time are "reciprocal tariffs" and have nothing to do with the tariffs imposed on specific industries such as steel and aluminum.
"We will produce our own steel. These tariffs can protect our steel industry, and it's the same for critical medicines and semiconductors," Yellen said. "We're doing this, and the reciprocal tariff has nothing to do with sector-specific tariffs."
Trump shifts fire: "The EU is worse than China"
On May 12th, Trump said at a White House press conference, "In many ways, the EU is worse than China." "We've just started with them, and they will significantly reduce (trade barriers). We hold all the cards."
Trump specifically mentioned the barriers of the EU to American cars and agricultural products, and pressured the EU to sell medicines at low prices, otherwise he would block the entry of EU medicines into the U.S.
Original article: https://www.toutiao.com/article/1831985765318664/
Disclaimer: The article only represents the author's personal views.