Tariff Talks: Can Washington and Beijing Reach Common Ground?

Beijing is considering Washington's offer to hold talks over the 145% tariffs imposed by U.S. President Trump. Both countries are engaged in a standoff, but recent moves suggest potential de-escalation. China's Commerce Ministry cautions against extortion and demands the U.S. cancel unilateral tariffs, seeking genuine negotiation efforts.

Beijing announced it is considering a proposal from Washington to discuss the hefty 145% tariffs imposed by U.S. President Donald Trump. China's Commerce Ministry issued a warning to the United States against engaging in what it describes as 'extortion and coercion' as tensions between the two economic powerhouses remain high.

The ongoing trade war has disrupted global markets and supply chains. The U.S., seeking talks, signaled a potential de-escalation, yet China remains firm, demanding genuine efforts from Washington to cancel unilateral tariffs and correct 'erroneous practices'. Adding to the tension, Beijing has prepared a list of U.S.-made products exempt from China's retaliatory tariffs.

U.S. officials, including Treasury Secretary Scott Bessent, expressed optimism about reducing trade tensions, acknowledging it as a multi-step process. President Trump and Chinese President Xi Jinping appeared optimistic, hinting at the possibility of reaching a strategic deal amidst an evolving international environment.

(With inputs from agencies.)