Trump pushes for ‘nice’ China talks as tariff deadline approaches
US Trade Deficit Narrows to $60.2 Billion in June
The United States recorded a tighter trade deficit of $60.2 billion for June, according to fresh government data.
Trump Sees “Nice” Handling with China
- President Donald Trump said Monday that the U.S. has been “dealing very nicely with China”.
- Chinese officials echoed the sentiment, stressing a desire for positive outcomes.
- The comments came just hours before a tariff truce between the two countries was set to expire.
Tariff Truce Hinges on 90‑Day Pause
- Both the U.S. and China imposed escalating tariffs this year, reaching triple‑digit levels.
- In May, the two nations agreed to temporarily lower those rates.
- The 90‑day halt in steep levies is due to expire Tuesday, leaving all eyes on a path forward.
Truce Remains Shaky
- After high‑level talks in Geneva, policymakers met again in Stockholm last month.
- U.S. officials accused Chinese counterparts of violating the pact, prompting further meetings in London.
- Commerce Secretary Howard Lutnick indicated a possible extension of the pause by another 90 days.
US Tariffs on China and Vice Versa
For the first time since returning to the presidency in January, Trump imposed a 10‑percent “reciprocal” tariff on almost all trading partners, aimed at addressing practices deemed unfair by Washington.
The tariffs surged to varying, steeper levels last Thursday for dozens of economies.
- Major partners like the EU, Japan and South Korea now see a 15‑percent U.S. duty.
- The level reached as high as 41 percent for Syria.
- Separate tariffs exclude sectors targeted separately, such as steel, aluminum, pharmaceuticals and semiconductors.
Targeted Actions Against Individual Nations
- Trump singled out Brazil over the trial of former president Jair Bolsonaro.
- India faced a separate tariff regime for its purchase of Russian oil.
- Canada and Mexico follow a different tariff regime.
