Overview
- The U.S. has imposed a 145% tariff on many Chinese goods, while China retaliated with 125% duties on U.S. imports.
- China's Ministry of Commerce confirmed it is assessing a U.S. proposal for trade negotiations but insists on the rollback of unilateral tariffs as a precondition.
- President Trump expressed optimism, stating a 'very strong chance' of reaching an agreement before the July deadline set by his administration.
- Both economies are experiencing strain, with China's export-driven growth slowing and the U.S. GDP contracting in Q1 due to pre-tariff import surges.
- China maintains a firm stance, vowing to continue the trade war if necessary but signaling openness to talks under terms of mutual respect.