Beijing’s top trade negotiator is reportedly headed to Washington this week as part of efforts to extend a tariff truce, but the superpowers’ standoff is already having a huge impact on global commerce and China’s own economy.
The talks signal keenness by both countries to maintain regular communication, The Wall Street Journal said. But hurdles remain: US President Donald Trump yesterday threatened 200% tariffs on China if it did not loosen restrictions on rare-earth exports.
And though the two countries have lowered levies on each other from punishing highs earlier this year, the current levels are nevertheless having consequences, with China importing almost no energy from the US last month while a powerhouse provincial economy is in the doldrums.
A chart showing the share of Chinese exports heading to the US by year.
