Latest news with #tradeofficials
Bloomberg
2 days ago
- Business
- Bloomberg
India, US to Expedite Trade Talks Ahead of Trump's Reciprocal Tariffs Deadline
India and the US will expedite trade talks to conclude an agreement that includes 'early wins' for both sides, an official said, as the two nations race to clinch a deal before Washington's tit-for-tat tariffs kick in next month. Trade officials from India and the US met in New Delhi for about a week to discuss issues including greater market access, digital trade, customs rules and technical barriers to trade, the official told reporters in New Delhi, asking not to be identified as the information isn't public. The US trade team arrived in New Delhi last week to advance trade negotiations.
Bloomberg
15-05-2025
- Business
- Bloomberg
US and Chinese Trade Negotiators Meet for Talks in South Korea
US and Chinese officials met for trade talks in South Korea on Thursday, just days after both sides met in Switzerland and agreed to pause some tariffs for 90 days. US Trade Representative Jamieson Greer sat down with China's chief trade representative Li Chenggang in Jeju, South Korea, according to a South Korean official with knowledge of the matter. No other details have been provided yet.
South China Morning Post
13-05-2025
- Business
- South China Morning Post
‘Extreme stress': How the trade war caught one of China's richest provinces off guard
For figures involved in all aspects of China's trade - from exporters to government officials - the past 40 days have been a roller-coaster ride. The ups and downs of the country's tariff war with the United States – the rapid escalation of import duties in April only matched by Monday's 90-day rollback of most levies – have ended with a temporary ceasefire, but not all regions have emerged unscathed. As businesses lick their wounds and count their losses, one of China's richest provinces has been hit especially hard after years spent as a beneficiary of close trade ties with the US. Zhejiang – a coastal economic powerhouse and the country's second-largest exporter to the US – suffered acutely from the sky-high levies imposed by US President Donald Trump on Chinese goods in early April. The scars could remain for a long time, even if tariffs are no longer at the triple-digit levels seen before Chinese and US officials finished trade talks in Switzerland. There has been widespread angst as the province reels from the impact of the trade war, in what some observers called an 'extreme stress test'. But in the torrid weeks before the de-escalation, Zhejiang sought to 'Trump-proof' itself by guarding against the worst of the fallout. The extensive damage to the province's economy, the pain businesses endured and how officials reacted could offer valuable lessons, even as the prosperous region was pushed to its limits. 'There are regions slow to pivot away from the US and they are paying the price … Monday's deal could mean the last chance for businesses to change,' said Zhou Zheng, a senior analyst at China Macro Group, a consultancy firm headquartered in Zurich.
South China Morning Post
12-05-2025
- Business
- South China Morning Post
China, US slash most tariffs on each other after first round of trade talks
Read more about this: China and the United States have agreed to remove most tariffs they had imposed on each other since April 2, 2025. The breakthrough came after high-stakes talks in Geneva in a bid to resolve a trade war that had raised import duties to unprecedented levels. The two countries announced the agreement in a joint statement released on May 12.
Sky News
12-05-2025
- Business
- Sky News
US and China agree to slash tariffs on each other
The US and China have agreed to slash tariffs on each other as they seek to end their trade war. Speaking after talks with Chinese officials in Geneva, US treasury secretary Scott Bessent told reporters the two sides had reached a deal for a 90-day pause on measures. US trade representative Jamieson Greer said reciprocal tariffs were now at 10% each. Please refresh the page for the fullest version.
