"90-day trade truce insufficient" - Beijing calls for extension as sides begin easing
The Chinese state-backed Global Times said the 90-day tariff truce between the United States and China during trade talks in Switzerland was too short, as envoys from the world's two largest economies regrouped in Korea.
During the Geneva summit, the US agreed to reduce additional tariffs it imposed on Chinese imports last month to 30% from 145% for the next three months, while China pledged to reduce duties to 10% from 125%.
"The window for mutually beneficial cooperation should extend far beyond a simple 90-day period," said the Global Times, which is owned by the ruling Communist Party newspaper, People's Daily, and has often been the first to report China's next steps in trade disputes in recent years.
Beijing also agreed to suspend or lift non-tariff countermeasures it has imposed against the US since April 2, although China has so far only suspended the decision to add about 50 US firms to restrictive lists for trade and investment.
In addition to easing restrictions, China agreed to lift export countermeasures issued after April 2, raising prospects for removing barriers to rare earth minerals.
Analysts say Beijing is unlikely to rush to fulfill all of its promises. China's Commerce Ministry did not specifically answer questions about which non-tariff barriers it would remove, instead temporarily suspending them.
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