The pact was announced on Monday, May 12 in a joint statement released after Negotiations held in Geneva last weekend by representatives of their respective governments, who also agreed to create a permanent mechanism of consultation.
This Dialogue instrument It will be led by the viceprimer Chinese minister, He Lifeng; The US Treasury Secretary. UU., Scott Besent, as well as the commercial representative of that country, Jamieson Greer, and may Gather in Chinain the US or in a third country.
During the 90 -day truce, both countries will continue with more technical negotiationswhich will not only include tariff issues, but also other measures that They hinder tradeparticularly from China, Besent said from Geneva.
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“But the consensus in these last two days was that none of the parties wants a decoupling (of trade) and that what happened with tariffs so high equivalent to an embargoand nobody wants this, ”he reflected.
Besent has been very satisfied with him meetings result And he has highlighted the will of the Asian giant to advance these discussions, as well as mutual respect.
Has also valued the usefulness of meetings for “Repair the relationships that had been damaged” For this commercial war.
The Treasury Secretary added that now both countries have a consultation mechanism that will allow “avoiding” another commercial climbing like the last two months.
“I would say that one of the most important things of this weekend is that USA will continue working for a strategic balance in several areas that They were exposed to the weaknesses of the supply chain During the COVID, be it in the area of medicines, semiconductors, steel and others, ”he said.
UU. Has identified up to six industries and its corresponding weaknesses in terms of Supply chain.
The commercial war between both powers, initiated with the Trump’s arrival at the White Househas intensified since April with the imposition of new tariffs, which took the Taxes at unprecedented levels: 145% For imports from Chinese goods to the USA and 125% for those of Americans who will enter China.
The gin meeting, held on the weekend, has been the First formal approach Since this began last tariff battle.
Jamieson Gerer said in Geneva that in these two days he first approached directly with China The fentanyl problemand that that country was asked to take drastic measures against the illegal production and export of chemicals that allow its elaboration.
“There was a surprising commitment to address the fentanyl crisis. It was the first time that China understood the magnitude of what is happening in the United States,” he said.
The bags receive the agreement with increases
The stock markets They have reacted to the commercial truce with advances, and shortly before 9.00 GMT, the main stock exchanges rise between 0.5%and 1.6%, while the Euro Stoxx 50 index, which brings together the largest sought from the old continent, advances 1.7%.
In Asia, the main markets have closed with increases, especially Hong Kong, which advanced 2.98%; While Shanghai and Shenzhen recounted 0.82%and 1.72%, respectively, and Tokyo, 0.38%.
The euro marked the opening of stock markets in Europe its minimum level in a month against the dollar, and changed to US $ 1.11. He oil Brent rises 3.6%, up to US $ 66.25 a barrel. He gold loses 3% and quotes at US $ 3,229 an ounce.