The US is unwilling to remove trade tariffs on Chinese products previously imposed under President Donald Trump. “The tariffs were introduced because we were concerned about unfair trade practices by China. And our concerns about these practices remain,” said US Treasury Secretary Janet Yellen.
Yellen was in China earlier this month to speak with senior Chinese officials. Subsequently, she spoke of “a step forward” for efforts to improve relations between the United States and China. Yellen is in India this weekend for a meeting of the G20, a group of economically important countries. There you again discussed the relationship with China.
“It would be helpful to look at ways to de-escalate over time,” the minister told reporters in Gandhinagar. But the trade tariff adjustment is not part of that at the moment. “I would say it’s premature to use this as a means of de-escalation, at least at this point.”
China
During her visit to China, Yellen discussed tariffs, she said. But any move to reverse the measures would likely spark political upheaval at home. The issue is still delicate. Several Republican presidential candidates have indicated that, as far as they are concerned, Americans should step up the pressure on China.
The ongoing tensions between the US and China also have consequences for the Dutch business community. Chip machine manufacturer ASML is particularly affected. The Dutch firm’s export restrictions to China could become even stricter, sources recently told Bloomberg news agency. The Americans have also previously restricted the export of their chip technology to China out of fear that the chips will be used there for military purposes. Washington is pressuring other countries to come up with similar measures.
Source: BNR
Sharon Rock is an author and journalist who writes for 24 News Globe. She has a passion for learning about different cultures and understanding the complexities of the world. With a talent for explaining complex global issues in an accessible and engaging way, Sharon has become a respected voice in the field of world news journalism.
