The White House confirmed that the trade talks between China and the US were progressing smoothly, and Basen said that the tensions were expected to ease.

White House: "Very smooth progress" in US-China trade negotiations, Mnuchin says "tensions有望缓解".

The White House said on Tuesday, April 22, that the negotiation between the US and China over a potential trade deal was "very smooth". Treasury Secretary Mnuchin also made similar comments at the same time, saying that "tensions有望缓解", but the negotiation would be "difficult and long-lasting".

According to reports from Agence France-Presse (AFP) and Reuters, White House spokesperson Lewitt said at a press conference on Tuesday that "we have made very good progress in discussing a potential trade agreement with China." He also mentioned that the relevant negotiations were "moving in the right direction".

The above statement from the White House came amid high tensions in US-China trade relations. Previously, the US imposed up to 145% tariffs on Chinese goods, and China retaliated with countermeasures of up to 125%, which heightened global market concerns about the escalation of a trade war.

This time, the White House rarely described the negotiations with China as "very smooth", sending out a clear signal of easing tensions. Analysts believe this may indicate that the two countries are actively seeking to ease trade frictions through diplomatic channels to prevent further deterioration of the situation.

Another sign of easing tension in US-China tariff trade disputes, Treasury Secretary Mnuchin also made similar comments on Tuesday, April 22, stating that "tensions有望缓解", but the negotiation would be "difficult and long-lasting".

A message from AFP from Washington: Treasury Secretary Mnuchin stated at a closed-door meeting on Tuesday that the current tense situation in the US-China trade conflict is有望缓解, as the current high tariffs have almost constituted a de facto embargo, seriously hindering bilateral trade.

A source present at the meeting told AFP that Mnuchin made the above remarks at a closed-door exchange hosted by JPMorgan Chase in Washington. He believed that the current tariff standoff is "unsustainable" for both governments.

Mnuchin referred to the additional tariffs recently imposed by the US government on Chinese goods, which reached up to 145%, while China retaliated with tariffs on American products reaching up to 125%. These high tariffs have already caused substantial barriers to bilateral commodity trade.

It was reported that Mnuchin also added that the Trump administration does not seek an "economic decoupling" with China, but hopes to find a new balance through negotiations. He said that the US side hopes China's economy will lean toward consumption, while the US economy will return to manufacturing, though it remains unclear whether China is willing to do so.

The source also revealed that Mnuchin believed these tariffs had functionally created a "blockade" in bilateral trade, affecting normal economic exchanges between the two countries. Therefore, he judged that the trade deadlock between the two countries was有望 see a "cooling down" trend in the short term.

Original article: https://www.toutiao.com/article/1830151948824647/

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