{"id":49291,"date":"2025-04-25T11:52:11","date_gmt":"2025-04-25T11:52:11","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/49291\/"},"modified":"2025-04-25T11:52:11","modified_gmt":"2025-04-25T11:52:11","slug":"china-eases-chip-tariffs-as-us-signals-quick-trade-deal-with-south-korea","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/49291\/","title":{"rendered":"China eases chip tariffs as US signals quick trade deal with South Korea"},"content":{"rendered":"\n

On Friday, reports<\/a> emerged that China quietly rolled back tariffs on some US semiconductors, easing pressure on its tech sector.<\/p>\n

Beijing is also weighing tariff relief<\/a> on medical gear and chemicals, lifting hopes for trade de-escalation.<\/p>\n

In addition, China may exempt US ethane and LPG<\/a> imports from tariffs if trade talks progress, Goldman Sachs says.<\/p>\n

Treasury Secretary Scott Bessent suggested a US-South Korea trade deal could happen next week, praising South Korea’s approach. Meanwhile, US-China talks stalled as China rejected<\/a> US tariff concessions, demanding all tariffs be lifted.<\/p>\n

“The US should … thoroughly remove all unilateral tariffs” if it “really wants to solve the problem,\u201d said Commerce Ministry spokesman He Yadong, calling reports of ongoing negotiations \u201cgroundless.\u201d<\/p>\n

President Trump claimed that his administration was talking with Beijing, even as he declined to specify who took part in negotiations.<\/p>\n

“It doesn\u2019t matter who ‘they’ is. We may reveal it later, but they had meetings this morning, and we’ve been meeting with China,” Trump said at the White House.<\/p>\n

Stock futures climbed <\/a>on Friday, buoyed by hopes \u2014 however flimsy they might be \u2014 of easing trade tensions. On Wednesday, Bessent denied a report <\/a>that the White House may unilaterally cut tariffs, but he stressed that both sides must act<\/a> to bring down “unsustainable” tariff levels.<\/p>\n

The back-and-forth between the world’s two largest economies has intensified in recent weeks: China raised its duties on imports of US goods to 125% from 84%, while US tariffs on Chinese imports have ballooned <\/a>to “a 125% reciprocal tariff, a 20% tariff to address the fentanyl crisis, and Section 301 tariffs on specific goods, between 7.5% and 100%.”<\/p>\n

While China takes the spotlight, investors are also focused on other key tariffs, as well as delays and exemptions. Trump is reportedly planning an exemption<\/a> on some auto parts levies after suspending duties on some consumer tech, even as he insists these tariffs will eventually come to fruition. The White House also ordered<\/a> a probe into truck imports, paving the way for tariffs on the sector.<\/p>\n

The baseline 10% tariff that went into effect on April 5 remains in place for all affected imports into the US.<\/p>\n

Here are the latest updates as the policy reverberates around the world.<\/p>\n

LIVE 673 updates <\/p>\n