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Recently, updates on tariff negotiations with the U.S. have come from several countries and regions!
U.S.-China Economic and Trade Consultations Officially Launched
According to the Ministry of Foreign Affairs website on June 7, a spokesman for the Ministry of Foreign Affairs announced that: at the invitation of the British government, He Lifeng, a member of the Political Bureau of the CPC Central Committee and Vice Premier of the State Council, will visit the United Kingdom from June 8th to 13th. During the visit, the first meeting of the China-US economic and trade consultation mechanism will be held with the US side
According to Reuters, before the official opening of the negotiations, White House Economic Council Director Hassett told U.S. media that the U.S. side would ask China to expand rare earth exports and lift the related restriction order.
As for the supply of rare earths, a Chinese spokesperson responded on 7 June that China's implementation of export control measures was in line with internationally accepted practices, with the aim of safeguarding national security and interests and fulfilling international obligations such as non-proliferation, and that China would take into full consideration the reasonable needs and concerns of countries in the civilian field, review the export licenses for relevant items and approve a certain number of applications for compliance in accordance with the law.
In addition, according to the Wall Street Journal, the focus of the negotiations has shifted from traditional tariff disputes to the more strategic theme of “export controls”, covering core technology areas such as semiconductors, artificial intelligence chip technology and aircraft engines.
South Korea: tariff deal as soon as possible
South Korean President Lee Jae-myung spoke with Trump on the phone from 10 p.m. local time on June 6, lasting about 20 minutes, Yonhap news agency reported.
It was Lee's first call with Trump since his inauguration. According to Kang Yoo-jin, a spokesperson for South Korea's presidential secretary's office, in a written briefing, the two leaders agreed to make efforts to coordinate on the tariffs and try to reach an early agreement that satisfies all parties. The two sides will encourage visual results in working-level consultations to this end.
This comes after the Trump administration imposed a 25 percent tariff on all South Korean products. The leadership vacuum in Seoul in recent months has been one of the main reasons for the lack of progress in negotiations between the two countries.
Some analysts say that striking a deal with the Trump administration and lowering tariffs is likely to be one of Lee Jae-myung's top priorities when he takes office.
Japan: no agreement yet
The U.S. and Japan held a fifth round of ministerial talks in Washington, D.C., on the afternoon of June 6 local time around the Trump administration's high tariff policy, CCTV reported.
After the meeting, Japan's Minister in charge of economic regeneration Akazawa Ryozo said that the discussion has made “further progress”, but has not yet found a point of agreement.
The United States and Japan have held five rounds of trade talks so far, but U.S. Treasury Secretary Ben Bessent, Commerce Secretary Lutnick and Trade Representative Greer are competing with each other in the negotiations for divergent positions and confusing viewpoints, complicating the negotiations, according to Reference News, citing the Singaporean website Lianhe Zaobao, which cited a Japanese media report on June 6th.
Japanese media reported that Japan hopes to reach an agreement by realizing a meeting between Japanese Prime Minister Shigeru Ishiba and Trump on the sidelines of the Group of Seven (G7) G7 summit in Canada this month.
Japan's Minister of Economic Regeneration Ryozo Akazawa: After we report to our respective leaders on the progress of the Japan-US tariff negotiations, the US and Japan heads of state will arrange a meeting, and we are aiming to negotiate at the time and place of the G7 summit.
Japan: no agreement ye
June 8 (Bloomberg) -- Bloomberg, Reuters and a number of other foreign media reported that the U.S. trade negotiating team in India has extended its stay.
An Indian official said negotiators, who initially aimed to wrap up talks by this Friday, will now continue discussions on Monday and Tuesday to resolve outstanding differences. This indicates that the two sides are making progress in the talks, the report said.
Trade talks between Indian and U.S. officials have been extended into next week, with the two sides reportedly set to agree on tariff cuts in the agriculture and automotive sectors, aiming to finalize a tentative agreement by a July 9 deadline, Indian government sources said.
An Indian government official with direct knowledge of the negotiations said, “The two countries are actively engaged in focused discussions to promote greater market access, reduce tariff and non-tariff barriers, and enhance supply chain resilience and integration.”
Earlier this month, U.S. Secretary of Commerce Lutnick said he was “very optimistic” about the prospect of a U.S.-India trade deal in the "near future.
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