The bilateral trade war between the U.S. and China is “extremely frustrated with the US – China’s economic status,” said Vice Premier He Lifeng

The fundamental nature of the global economy is being questioned due to the fact that China is a manufacturing hub while the US is a consumption economy. I don’t think so, said the executive director of the platform and a former Australian diplomat. Is it possible for the two sides to work out some things that will make them both happy? Sure, there absolutely must be.”

The US is in talks with China to get it to purchase more American goods, which would be in keeping with the trade deal the Trump administration agreed to with China in 2020. The U.S. said that they would purchase an additional $200 billion of goods from China.

Jens Eskelund is president of the European Union Chamber of Commerce in China. “Businesses need predictability to maintain normal operations and make investment decisions.”

The trade war between the US and China caused a lot of pain for consumers and businesses in both countries and it was only after the tariffs were raised that they started to feel more normal. While welcome by importers, the tariff drops are temporary and could be pulled if talks between the two countries sour.

Bessent said that neither side wants a change in trade, but both sides want more balanced trade.

The Chinese “came to deal this week,” said Greer, citing rapid progress between the two countries, which have also agreed to establish a consultation mechanism to continue addressing trade issues going forward.

For a period of 90 days, the American tariffs on Chinese goods will fall from 145% to 30% and the Chinese tariffs will fall from 125% to 10%.

The talks were led on the Chinese side by Vice Premier He Lifeng and on the U.S. side by Trade Representative Jamieson Greer and Treasury Secretary Scott Bessent.

“We concluded that we have shared interest and we both have an interest in balanced trade,” Bessent said at a press conference on Monday. There was a positive path forward for the two countries working to solve the problem of Fentanyl smuggling.

“China has always pursuing win-win outcomes in its trade and economic negotiations, and therefore any possible deal to be reached will definitely by in the development interest of China’s own,” said Li Chenggang, a diplomat with China’s commerce ministry.

Vice Premier He described the atmosphere of the meeting as “candid, in-depth, and constructive” at a press conference following the meeting, saying it achieved “substantial progress and reached important consensus”.

The Los Angeles Port-of-Los Angeles Dispatch in the Presence of Triple-Dimensional Taxes

Stocks opened sharply higher Monday after the U.S. and China announced a temporary break from triple-digit tariffs that had brought much of the trade between the two countries to a standstill in recent weeks.

The pause comes after many businesses that rely on imports had halted deliveries to avoid paying a triple-digit tax. The Port of Los Angeles cargo traffic last week was down by more than a third from a year ago, and there’s a risk of future supply shortages.

Ross pulled two cargo containers out of ships when the tariffs went into effect. Now she’s scrambling to get as much merchandise to the U.S. as she can while the lower tariffs are in place.

The company that makes toys inChina got news of the transaction at 4:30 am and immediately called associates in Hong Kong to set up shipments.

“Because we did not want to put anything on containers with a 145% tariff, we have held everything at the factories and the ports,” he says.

There is a possibility that businesses may race to get their products out early for the Christmas season to avoid the risk of tariffs in the fall. There’s a chance the administration will order a lower tariffs at the end of the three month window.

“I’m attempting to get through the next four to six weeks,” he says. “Whether I double-shift the factories to try to get more produced and out the door before the end of the 90 days, I’ll probably need another three to four weeks to figure that out.”