US and CHINA announce agreement to soften TARIFFS

Diario As

Ver US and CHINA announce agreement to soften TARIFFS - Diario As en Dailymotion

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00:00We have

00:29reached

00:31an agreement

00:34on a 90-day

00:36pause

00:37and

00:39substantially

00:41moved down the tariff

00:44levels. Both sides

00:46on the reciprocal tariffs

00:48will move their tariffs down

00:50115%.

00:51We had

00:58very robust discussions.

01:01Both sides

01:04showed great respect.

01:07One,

01:09throughout

01:09the trade process,

01:12we have had

01:13a plan,

01:16we have a process

01:17in place, and now

01:19with the Chinese,

01:22after this weekend, we have a

01:23mechanism for continued talks.

01:26So, process,

01:28plan, and mechanism.

01:31I would say

01:32one of the

01:34big takeaways

01:36from this weekend,

01:37the United States will continue

01:39a strategic

01:42rebalancing

01:43in many areas that were

01:46exposed as supply chain

01:48weaknesses

01:48during COVID,

01:51whether it's

01:52medicines, whether it's

01:54semiconductors,

01:56steel,

01:57the other,

01:58we've identified

02:00five or six

02:01strategic industries

02:04and supply chain vulnerabilities,

02:06and we will continue

02:07moving toward

02:09U.S.

02:10independence

02:10or

02:11reliable

02:13supplies from

02:14allies on

02:15those,

02:16but

02:16the consensus

02:18from both

02:19delegations this

02:20weekend

02:21is neither

02:22side wants

02:23a

02:24decoupling,

02:25and what had

02:27occurred

02:28with these

02:29very high tariffs,

02:31as Ambassador Greer

02:32said,

02:32was

02:33the equivalent

02:35of an embargo,

02:36and neither

02:37side wants that.

02:39We do want

02:40trade,

02:41we want more

02:42balanced trade,

02:43and I think that

02:44both sides

02:45are committed

02:46to achieving that.

02:48Was that the

02:49president pushing you,

02:50or the Chinese?

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