China is slowly bowing down in the trade war

China, which has been vowing to never bow down to the United States in the trade war and will continue to fight to the end, has admitted that it is evaluating the issue of negotiations with the United States.

China’s Ministry of Commerce responded to reporters’ questions on the morning of May 2, saying that it is evaluating the trade talks with the United States, and also claimed that the United States should be honest on this issue and take practical action.

In addition, it has been continuously revealed that China has started to exempt US products from tariffs, and so far it has exempted a quarter of US goods from tariffs. According to Bloomberg data, the value of 131 types of products exempted from tariffs will reach $40 billion. This will account for 24% of China’s imports from the United States by 2024.

Currently, the US government has also exempted some Chinese electronic products from tariffs, and China’s actions are seen as being in sync with US measures.

The trade war between the US and China has severely hit the Chinese economy. China's manufacturing sector is in its worst shape since December 2023, an early sign of the tariff pressure.

While China has been claiming that it has not negotiated with the United States, Korean media reported in recent days that a Chinese trade delegation secretly met with the US government.