Trade War: US and China Begin De-Escalation
Alban de Montigny and Nils Leprêtre
Published on
After two months of record-breaking tariffs, China and the United States have resumed negotiations. Blondet Eliot/Abaca / Blondet Eliot/Abaca
The United States and China de-escalated their trade war on Monday, May 12. Both powers committed to lowering their tariffs for 90 days. A few days earlier, Washington had reached an agreement with London.
The trade standoff between the United States and China ultimately lasted only a few weeks. As is often the case, Donald Trump, after flexing his muscles, backed down. Following a meeting in Geneva on Saturday, May 10th and Sunday, May 11th, between Scott Bessent, US Secretary of the Treasury, and He Lifeng, Chinese Vice Premier for the Economy, the two powers announced, in a joint statement, that they would lower their customs duties.
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