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US treasury secretary Scott Bessent: 'I believe that the venue, here in Lake Geneva, added great equanimity to what was a very positive process' (Photo: Scott Bessent's X)

EU welcomes US backing down in China trade war

Europe on Monday (12 May) welcomed news of the de-escalation of the trade conflict between China and the United States. 

“We do welcome it. From the EU side, we’ve been very clear that tariffs are a retrograde step for the global economy. We want to lower barriers, not increase them,” an EU commission spokesperson said.

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Author Bio

Wester is a journalist from the Netherlands with a focus on the green economy. He joined EUobserver in September 2021. Previously he was editor-in-chief of Vice, Motherboard, a science-based website, and climate economy journalist for The Correspondent.

US treasury secretary Scott Bessent: 'I believe that the venue, here in Lake Geneva, added great equanimity to what was a very positive process' (Photo: Scott Bessent's X)

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Author Bio

Wester is a journalist from the Netherlands with a focus on the green economy. He joined EUobserver in September 2021. Previously he was editor-in-chief of Vice, Motherboard, a science-based website, and climate economy journalist for The Correspondent.

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