U.S. and China seal trade deal after swift Geneva talks
The United States announced the conclusion of a trade agreement with China after two days of negotiations in Geneva. According to Treasury Secretary Scott Bessent, the talks were fruitful, and the details will be shared on Monday.
"I’m happy to report that we made substantial progress between the United States and China in the very important trade talks. First, I want to thank our Swiss host. The Swiss government has been very kind in providing us this wonderful venue, and I think that led to a great deal of productivity we’ve seen. We will be giving details tomorrow, but I can tell you that the talks were productive," said U.S. Treasury Secretary Scott Bessent.
He added that more details would follow on Monday but assured that "the talks were fruitful."
U.S. Trade Representative Ambassador Jamieson Greer added that these were two constructive days.
"This was, as the Secretary pointed out, a very constructive two days. It’s important to understand how quickly we were able to come to agreement, which reflects that perhaps the differences were not so large as maybe thought. That being said, there was a lot of groundwork that went into these two days. Just remember why we’re here in the first place — the United States has a massive $1.2 trillion trade deficit, so the President declared a national emergency and imposed tariffs, and we’re confident that the deal we struck with our Chinese partners will help us to work toward resolving that national emergency," he communicated.
Greer expressed hopes that the agreement reached with the Chinese partners will help the U.S. in its efforts to resolve this state of emergency.
