(Source: CCTV-2 "CCTV Financial Review" 2025-05-12)

Editor's Note:The Joint Statement on Economic and w88 online casino Talks between China and the United States was released. The two sides conducted in-depth exchanges on economic and w88 online casino issues of concern to each other, reached a number of important consensuses, significantly reduced the level of bilateral tariffs, and agreed to establish an economic and w88 online casino consultation mechanism, lengthen the list of cooperation, expand the cooperation cake, promote new development of China-US economic and w88 online casino relations, and inject more certainty and stability into the world economy. Against this background, the tariff policies of China and the United States are our most concerned issue,CCTV-2 "CCTV Finance Review" invites Zhao Zhongxiu, President of the University of International Economics and w88 online casino, interpret the joint statement issued by China and the United States for everyone.

The establishment of consensus between the two sides is the basis for continuing negotiation

Host:President Zhao, in your opinion, such expression represents what substantial progress the two sides have made in economic and w88 online casino negotiations?

Zhao Zhongxiu:The Sino-US joint statement shows a good consensus, that is, it highlights the position of the US economy and the Chinese economy in the world economy. We know that the United States is the world's largest economy and China is the world's second largest economy. The imports of these two countries account for 1/4 of the world's world's largest economy. China-US economic and w88 online casino relations are also called the ballast of Sino-US relations, which is also a consensus in the past.

So the negotiations in Geneva have achieved positive results, which is based on the consensus between the two sides and the awareness of the importance of economic and w88 online casino relations to the two countries and the world. Also, economic and w88 online casino relations themselves are lasting and must be sustainable, and economic and w88 online casino exchanges must be equal, so this is also a consensus that can be formed so that they can sit down and talk, eliminate differences, and resolve their respective concerns.

US tariffs have been significantly reduced to the benchmark level

Host:In addition to such a statement from the important consensus between the two sides, I think what everyone is most concerned about in today's statement is the adjustment of the tariff policy between the two sides. We see that both sides promise to take a series of measures to cancel and suspend some tariffs before May 14, 2025. Principal Zhao, please come and calculate for us. According to such a statement from both sides, what is the tariff we are levied now?

Zhao Zhongxiu:April 2 is a watershed. After April 2, Trump announced that he would impose tariffs on the whole world. The so-called reciprocal tariffs have different deficiencies in countries. Countries with surplus 10%, and many countries with deficits. China has adopted a firm countermeasure, so he added one more and more, and after several rounds, it has increased to 125%. The result of this talk is that this 125% is divided into three stages, and 34% of the first stage is retained by 10%, which is called the so-called benchmark tariff.

So before we knew there were two rounds, adding two 10% to China. We actually took a different approach. We first added automobiles, agricultural machinery, fossil energy, including liquefied natural gas, and increased tariffs ranging from 10% to 15%. In the second round, we collected 10% to 15% of agricultural products, so there is still a difference, and this is still a reciprocal approach.

So overall, it has dropped by 115%, from 125%, and the remaining 10%. Of course, you have to add the previous ones, and the tariff level is actually very high, so in the future we still need to implement comprehensive measures and a series of negotiations to solve such problems. Because such high tariffs actually hinder the w88 online casino relations between China and the United States, it is not conducive to its healthy, stable and sustainable development.

Added consultation mechanism is conducive to resolving differences

Host:Speaking of the future, we see that the last paragraph of the "Joint Statement on Economic and w88 online casino Talks between China and the United States" says that after this tariff adjustment, China and the United States will establish a mechanism to continue to negotiate on economic and w88 online casino relations. President Zhao will ask you to analyze and analyze it for us. If the two sides negotiate further next, what will the main talks be held? What might be the next consultation mechanism?

Zhao Zhongxiu:The establishment of the Sino-US economic and w88 online casino consultation mechanism is an important achievement. In fact, China and the United States had consultation mechanisms at different levels in the past. For example, "China-US Strategic Dialogue" and "China-US Strategic Economic Dialogue" were actually very high-level dialogue mechanisms.

It should be said that the consensus formed by China and the United States in the past has suffered a great impact, which not only harmed China-US relations, but also brought great harm to the world economy and global economic governance. There are differences between China and the United States because we are in different stages of development and the w88 online casino structure and economic structure are different. These are objective phenomena.

There are some methods of increasing the countermeasures, and now they can be suspended or withdrawn. However, because the relationship between China and the United States is very complex, it not only involves economic competition in w88 online casino, but also blockade of China in technology, and even (the United States in the past) public opinion, and uses everything to do.

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