China 'Stands With India Against Trump's 50% Tariff
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Scott Moe, premier of the western Canadian province of Saskatchewan, said on Thursday that he would travel to Chinasoon for talks on persuading Beijing to drop its new tariffs on canola.
Treasury Secretary Scott Bessent indicated that the US is satisfied with the current tariff arrangement with China, a signal the Trump administration is looking to keep ties calm before a trade truce expires in November.
A 90-day pause on imposing higher tariffs on China is due to expire on Tuesday and it is unclear if it will be extended.
Chinese Ambassador Xu Feihong said that the US had long benefited from free trade but was now using tariffs as bargaining chips. He stated that the US had imposed tariffs of up to 50% on India and that China firmly opposed it.
President Donald Trump’s tariff war is accelerating Beijing’s trade and investment push into developing nations known as the Global South, according to research by S&P Global, potentially creating a new trade order dominated by Chinese firms.
New Delhi’s frayed ties with Washington have added to a thaw in the frosty relationship with Beijing that began last year.
Scott Moe, premier of the major grain-growing Canadian province of Saskatchewan, said on Thursday he will travel to China soon for talks to persuade Beijing to drop new tariffs on canola.
New bipartisan legislation aims to get “skin in the game” on trade and tariffs. The post Lawmakers take on China with new tariff bill appeared first on FreightWaves.