A New Round of Trade Talks Between Washington and Beijing: In a new development toward easing trade tensions
between the United States and China,
Top negotiators from both sides held a meeting on Thursday on South Korea’s Jeju Island.
This came just days after an agreement in Switzerland to suspend specific mutual tariffs for 90 days.
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A New Round of Trade Talks Between Washington and Beijing
In a new development toward easing trade tensions between the United States and China,
top negotiators from both sides held a meeting on Thursday on South Korea’s Jeju Island.
This came just days after an agreement in Switzerland to suspend specific mutual tariffs for 90 days.
According to a South Korean government source, U.S. Trade Representative Jamieson Greer met
with China’s top trade negotiator, Li Chenggang, in what was described
as a continuation of bilateral talks aimed at curbing the escalating trade conflict between the world’s two largest economies.
No further details regarding the content or outcomes of the meeting have yet been released.
These talks are viewed as an exploratory step toward laying the groundwork for broader negotiations,
especially amid mounting pressure from the private sectors in both countries,
which have been affected by rising import and export costs due to the trade war.
According to official Chinese data, Chinese shipments to the U.S. fell by 21% year-on-year in April,
while imports of American goods declined by 14% during the same period,
a clear indication of the profound impact of the tariffs.
Eurozone Economy Sees Moderate Growth in Q1, Supported by Strong Labor Market
According to preliminary data released by Eurostat on Thursday,
the Eurozone economy grew by 0.3% in the first quarter of 2025.
This suggests a continued, albeit modest, recovery despite external challenges, chiefly global trade tensions.
Although the growth rate came in slightly below the initial estimate of 0.4%,
it still represents a mild improvement over the final quarter of 2024,
which saw 0.2% growth. On a year-on-year basis, the GDP of the single currency area remained steady at 1.2%,
reflecting relative stability in overall economic performance.
Meanwhile, labor market data showed improvement,
with employment rising by 0.3% in Q1—the highest quarterly growth rate in a year.
This indicates that job creation remains strong despite the global economic slowdown.
Among the major member states, Spain led the way with 0.6% growth,
followed by Italy at 0.3%,
while Germany — Europe’s largest economy — recorded a more modest 0.2% growth.
Trump: India Offers to Eliminate Tariffs on U.S. Goods Amid Escalating Trade Talks
U.S. President Donald Trump announced that India has offered to completely remove tariffs
on American goods to ease trade tensions between the two countries.
New Delhi recently threatened retaliatory tariffs in response to increased U.S. steel and aluminum import duties.
Trump made the remarks during an event with business leaders in Doha, Qatar,
stating that the Indian government “has proposed a deal to eliminate all tariffs on U.S. products.”
a clear indication of both sides’ desire to avoid a full-blown trade war.
In a related note, Trump mentioned he had spoken with Apple CEO Tim Cook
to dissuade him from expanding the company’s production in India.
He emphasized that Apple plans to boost its investments within the United States instead of shifting operations abroad.
India’s Minister of Commerce is expected
to visit the U.S. from May 17 to 20 for a new round of negotiations.
These talks are part of preparations for the first phase of a trade agreement between the two countries.
The agreement was initially agreed upon during Indian Prime Minister Narendra Modi’s visit to Washington last February.
The deal is expected to be finalized by fall.
This development comes as the Trump administration is working
to reduce the trade deficit with major partners by renegotiating outdated trade terms and applying
direct pressure to open markets to American exports.
India’s response is a positive sign of the policy’s effectiveness,
potentially boosting market confidence and easing global trade tensions.
A New Round of Trade Talks Between Washington and Beijing
