China Urges U.S. to 'Meet Halfway' on Tarifs

The 90-day tariff truce agreed by the United States and China during trade talks in Switzerland last weekend may not be long enough to resolve major differences between the two countries, according to a state-backed Chinese newspaper seen as a barometer of Beijing’s policy stance.

In an editorial published Friday, the Global Times - run by the ruling Communist Party’s People’s Daily - said the three-month window “should extend far beyond a mere 90-day period,” adding that the U.S. should “build on the outcomes of the recent talks and continue to meet China halfway.”

While the article does not represent an official position, the Global Times has previously signaled Beijing’s direction in past trade disputes, and its comments come as Chinese and American negotiators regrouped in South Korea on Thursday for follow-up discussions.

Uncertainty Lingers

During last weekend’s Geneva summit, the U.S. agreed to scale back recently imposed tariffs on Chinese imports, cutting them to 30% from 145% for the 90-day period. In return, China pledged to reduce its own duties on American goods to 10% from 125%.

China also committed to pausing or removing certain non-tariff countermeasures implemented since early April, although specifics remain limited. So far, Beijing has paused - but not formally withdrawn - a decision to restrict around 50 U.S. firms from operating or investing in the country. China also agreed in principle to lift some export curbs introduced after April 2, potentially including those on rare earth minerals. But the government has not clarified which measures will be fully removed or when.

“There is no point in China clarifying the non-tariff barriers it plans to lift to give itself the flexibility it wants,” Dan Wang, China director at Eurasia Group, told Reuters. “The tariffs will likely go back up after 90 days, and China may sign some purchase agreements, but the non-tariff barriers will be important in future talks.”

For now, the 90-day tariff reprieve remains in effect. Whether it will be extended remains unclear. But Beijing’s signals suggest it is seeking a longer window to negotiate, even as key elements of the deal remain vague and open-ended.

Analysts Expect Trump to Hold Line Through 2025

According to a Bloomberg survey of 22 fund managers, banks, and research firms across Asia, Europe, and the U.S., the prevailing view is that Donald Trump is unlikely to roll back key elements of his tariff policy in the near term. The current 30% tariff level, while down from the previous rate of 145%, is still projected to reduce Chinese shipments to the U.S. by up to 70% over the medium term, according to estimates from Bloomberg Economics.