The US is preparing for trade talks with 18 countries: can tariffs be eased?

The US Trade Representative has begun work on a new scheme that could lead to major changes in the country's trade policy. According to it, the US plans to hold negotiations with 18 countries on the gradual easing of trade tariffs, The Wall Street Journal (WSJ) reports.

The plan will discuss issues such as tariffs, import quotas, non-tariff barriers, origin of goods, digital trade and economic security. However, sources say the document may change before it is finalized.

The US will develop special requirements for certain countries under this scheme and will hold discussions with major trading partners for two months. The talks are scheduled to begin on July 8, the day President Donald Trump gave up on imposing broad trade tariffs on the United States. If the talks fail, the United States could impose tariffs on those countries.

White House press secretary Carolyn Levitt earlier confirmed that the administration had received proposals from 18 countries, but did not disclose the list. The WSJ reported that Canada, Mexico and China are unlikely to be among them. This is because the broad trade restrictions imposed by the United States do not apply to those countries.

The trade war between Beijing and Washington has intensified recently, with the United States raising tariffs on Chinese goods to 145 percent, while China has responded with a 125 percent tariff on American goods. Beijing has also imposed restrictions on exports of key minerals to the United States.

The publication reports that the Trump administration is currently considering reducing tariffs by 50-65 percent in order to ease the situation with China. However, President Trump himself has also stressed that he will not unilaterally reduce tariffs unless Beijing comes up with a "serious and clear" proposal.

The negotiations that will take place in the coming months could be a serious turning point in international trade relations. It is not yet known how this trade "peace" plan will end, but economic analysts hope that these processes will have a positive impact on global markets.

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