China, Trade Talks
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As U.S. and Chinese officials concluded trade talks this week, new data shows massive tariffs drove Chinese imports to their lowest levels in more than five years. U.S. tariffs on Chinese goods topped out at 145% in April when the Census Bureau collected trade data that showed a continuing decline in Chinese imports from March.
Every Friday, we recap highlights of the news from China. This week, yet another attempt was made to ease US-China trade tensions. Taiwan flagged a case of damage to undersea cables, and President Xi Jinping met with China’s Panchen Lama.
China has reported its exports rose 4.8% in May from a year earlier, lower than expected as shipments to the United States fell nearly 10%
A Chinese delegation led by Vice Premier He Lifeng held talks with U.S. Commerce Secretary Howard Lutnick, Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer at Lancaster House, an ornate 200-year-old mansion near Buckingham Palace.