China is in talks with the administration of US President Donald Trump about the possible lifting of restrictions on Chinese transactions in the US, Bloomberg reported, citing its sources.
According to sources, Beijing has offered $1 trillion in investment in the US as part of trade talks. It is noted that China is also calling for a reduction in tariffs on imported resources used by Chinese companies located in the US.
Bloomberg emphasizes that the volume of potential Chinese investment in the US, if Washington accepts Beijing's proposals, is still under discussion.
On April 2, Trump increased tariffs on Chinese goods to 125%. Taking into account the previously imposed 20% tariff due to "insufficient efforts" by Canadian, Chinese and Mexican authorities to combat fentanyl smuggling into the US, the combined tariff on goods from China rose to 145%.
Following talks in Geneva on May 10-11, US and Chinese officials announced a mutual tariff reduction of 115% for 90 days (effective May 12) (to 30% on Chinese goods imported into the US and 10% on US goods imported into China). That deadline expired on August 12, but Trump announced that he had signed an executive order delaying the increased tariffs on Chinese goods for another 90 days.