He Lifeng, Chinaâs second vice-premier, successfully negotiated a 90-day tariff respite with the U.S. despite limited English skills. The Geneva meeting on May 10-11 aimed to ease longstanding trade tensions, resulting in significant temporary tariff reductions: from 125% to 10% for China and 145% to 30% for the U.S. Both governments recognized the importance of maintaining communication. He, who has recently taken over key economic roles, exhibits a more bureaucratic leadership style, aligning with Xi Jinpingâs directives, differing from his more internationally-minded predecessor Liu He.
The agreement reached signifies a substantial reduction in tariffs: from 125% to 10% for China and from 145% to 30% for the United States.
He Lifeng, the new economic czar, brings a less visible, more bureaucratic leadership style, aligning closely with President Xi Jinping's vision.
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