The United States is seeking to persuade other countries to limit their economic and trade relations with China in exchange for reduced US duties, The Wall Street Journal reported, citing sources.
According to them, the US plans to persuade more than 70 countries to ban Chinese companies from operating on their territories and supplying their goods through them. In addition, Washington wants its trading partners not to "absorb China's cheap industrial goods." In return, the US is expected to promise them lower import duties.
The exact scope of Washington's demands to each of the states is likely to vary, the sources said.
US Treasury Secretary Scott Bessent is among the authors of the initiative. On April 6, he introduced this plan to the American leader Donald Trump. Bessent expects to weaken China's economy, isolate it and force it to making concessions.
On April 9, Trump announced suspension of additional import tariffs imposed on a reciprocal basis for a number of countries and territories for 90 days. The White House explained that the pause was related to trade negotiations. During this period, a universal tariff of 10% will be in effect.
Simultaneously, the US president raised tariffs on Chinese products to 125%. Taking into account the previously imposed tariff of 20% for allegedly insufficient efforts of the governments of Canada, China and Mexico in combating fentanyl smuggling into the US, the total duty on goods from China now reaches 145%.
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