The White House announced that the United States and China have reached an agreement in major trade talks in Geneva.
“I am pleased to report that we have made significant progress in the very important trade talks between the United States and China,” US Treasury Secretary Scott Bessent said after the meetings hosted by Switzerland. “I thank the Swiss government for providing this wonderful environment. This productive atmosphere allowed the talks to be constructive.”
It was reported that the vice prime minister and two deputy ministers from China, as well as US Trade Representative Ambassador Jamieson Greer and Treasury Secretary Bessent attended the talks. Minister Bessent added that President Donald Trump was briefed on the process in detail and that a full press statement would be made tomorrow morning.
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US Trade Representative Jamieson Greer said that the talks were extremely constructive and added, “The fact that we reached an agreement in these two days shows that the differences between the parties are not as great as it is thought. However, an intensive preparation process was carried out to get to this point. The basis of these talks is that the US has a huge trade deficit of $1.2 trillion. That is why the President declared a national emergency and started imposing tariffs. We believe that this agreement we reached with our Chinese partners is an important step towards resolving this emergency.”
*This is not investment advice.
