The United States and China have agreed to de-escalate their trade war for an initial 90-day period. Negotiations between the two countries took place over the weekend in Geneva, Switzerland. The trade war escalated after US President Donald Trump’s “Liberation Day” global tariffs announcement last month. Since then, the countries have conducted a retaliatory back and forth regarding what and how much would be tariffed, resulting in import taxes over 100%.
On his social media platform, Truth Social, Trump spoke positively of the negotiations with China. He said, “A very good meeting today with China, in Switzerland. Many things discussed, much agreed to. A total reset negotiated in a friendly, but constructive, manner. We want to see, for the good of both China and the US, an opening up of China to American business. GREAT PROGRESS MADE!!!”
CNBC reported that most tariffs are temporarily paused during this 90-day window. The outlet detailed that US tariffs on China will decrease from 145% to 30%, and China’s tariffs on the US will decrease from 125% to 10%. The pause is set to begin May 14.
What Does The US-China Trade Talks Mean For Travel?
According to the Travel and Tour World, the positive US-China trade talks have already positively impacted the travel sector. The publication claims that the pause will provide recovery room regarding paused or suspended tour operations and travel plans, such as trans-Pacific flights and hotel bookings. Additionally, hotels, retailers, and economies that are impacted by the loss of tourism will gain relief.
The source added that tour operators who suspended US-China itineraries will likely reestablish those schedules by early summer. Additionally, travel booking platforms have reportedly seen increased searches for US-China itineraries.
Travel and Tour World claimed that the lengthy reduction in Chinese visitors to the US, which some tourism boards believe the trade war has contributed, has resulted in billions of dollars lost in the American tourism sector.
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