Russian expert: Trump's economic offensive against China ends in U.S. failure
Vasily Kashin, an expert at the Center for Comprehensive European and International Studies of the Higher School of Economics of Russia, said at a roundtable meeting held in Moscow that Trump's economic offensive against China ended in U.S. failure.
Kashin said, "Trump's economic offensive against China was poorly planned, roughly calculated, and based on wrong assumptions about how China might react, ultimately leading to U.S. failure."
Kashin pointed out that the United States had to take the initiative to request negotiations and adjust the tariff levels back to the status before the escalation of the conflict, which means maintaining its previous global 10% tariff policy. This indicates that the U.S. will not retreat and will take新一轮more carefully planned confrontational actions in the future.
The two sides announced on May 12th that they had reached a preliminary agreement on temporarily reducing trade tariffs, which would be valid for 90 days and take effect from May 14th. The "mutual" tariffs will be reduced to 10%. According to this, the tariff rate for Chinese imports of American goods will be adjusted to 10%, while the tariff rate for American goods imported from China will remain at 30%, as the 20% "fentanyl" tariff is still in effect.
Original source: https://www.toutiao.com/article/1832290628327436/
Disclaimer: The article only represents the author's personal views.