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U.S. and China Face Critical Trade Deadline

8/12/2025

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Summary

Story summary

On April 5, 2024, U.S. Treasury Secretary Janet Yellen and China's Vice Premier He Lifeng convened in Guangzhou, facing a critical moment as a 90-day tariff truce nears its end. With trade tensions escalating and Trump's potential tariffs on China's oil purchases from Russia looming, the stakes for both economies have never been higher.

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Story summary

On April 5, 2024, U.S. Treasury Secretary Janet Yellen and China's Vice Premier He Lifeng convened in Guangzhou, facing a critical moment as a 90-day tariff truce nears its end. With trade tensions escalating and Trump's potential tariffs on China's oil purchases from Russia looming, the stakes for both economies have never been higher.