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Breaking: China and U.S. to Resume Negotiations, Major Tariff Uncertainties Ahead

Global Chemical Industry 2025-07-23 14:05:25

On July 22 local time, U.S. Treasury Secretary Scott Bessent made a series of remarks regarding tariffs and China-U.S. trade-related issues.

China and the United States will hold talks next week.

Regarding China-US trade, Bassett revealed that constructive discussions have taken place, and the August 12 deadline for imposing tariffs on China may be postponed again. The two countries will hold trade negotiations next Monday and Tuesday in Stockholm, Sweden, to discuss the extension and China's purchase of Russian and Iranian oil.

Previously, U.S. Republican Senator Lindsey Graham told ABC that a new bill proposing sanctions against Russia, which he introduced, is expected to pass in Congress in July, and Trump currently expresses his support.

He also threatened that China and India purchasing Russian energy supports "Putin's machine," and according to this bill, the United States will impose a 500% tariff on imports from China and India.

Besant also revealed that "constructive" discussions have already been underway between China and the United States, and the August 12 deadline for imposing tariffs on China may be postponed again.

Japan and the United States Reach Trade Agreement

On July 22, local time, U.S. President Trump announced through social media that the United States and Japan had reached a trade agreement: a tariff rate of 15% on Japan and a $550 billion investment from Japan to the U.S.

Trump posted on his social platform "Truth Social" stating that the United States has just reached a "huge" agreement with Japan, possibly the largest ever.

He stated that according to his instructions, Japan will invest $550 billion in the United States, and the U.S. will receive 90% of the profits. This agreement will create hundreds of thousands of jobs.

Trump also stated that, perhaps most importantly, Japan will open its market for trade, including automobiles, trucks, rice, and other agricultural products and goods. Japan will pay the United States a reciprocal tariff of 15%.

Japan is one of the first countries to initiate trade negotiations with the United States. Japanese negotiators have visited the U.S. multiple times for talks, but the two sides remain at an impasse over issues such as automobiles and agriculture. Recently, Trump has threatened to raise tariffs on Japan to 25% and set a negotiation deadline of August 1.

Philippines grants zero tariffs to the United States

According to a report by the American political news website Politico, U.S. President Trump announced on social media that on the 22nd local time, after a meeting with Philippine President Marcos at the White House, the United States has reached a trade agreement with the Philippines.

According to reports, Trump posted on his social media platform "Truth Social" saying: "This was a pleasant visit. We reached a trade agreement— the Philippines will open its market to the United States and implement zero tariffs."

Trump also stated that the United States will impose a 19% tariff on goods imported from the Philippines.

The White House has not yet released more details about the U.S.-Philippines trade agreement. The final terms of the agreement have not been formally confirmed by the Marcos administration.

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Breaking: China and U.S. to Resume Negotiations, Major Tariff Uncertainties Ahead

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