The United States announces “substantial progress” in trade talks with China in Geneva | World News
According to a statement from the White House, the United States announced trade talks with China during talks in Geneva on Sunday. U.S. Treasury Secretary Scott Bessent confirmed significant progress and described the discussion as productive, with more details expected to be released on Monday.
“I am happy to report that we have made great progress in the very important trade negotiations. First, I want to thank our Swiss host. The Swiss government has been very kind to provide us with this great venue and I think this has led to a lot of productivity we have seen. We will come up with details tomorrow, but I can tell you that the talk is effective.
“We have the Deputy Prime Minister, two Deputy Ministers, who are always involved, Ambassador Jamieson and myself. I spoke with President Trump with the same ambassador last night as ambassador last night, and he has a good understanding of what is going on. So there will be a full briefing tomorrow morning.”
U.S. Trade Representative Ambassador Jamieson Greer said the parties quickly reached an agreement.
“As the secretary pointed out, it was a very constructive two days. It is important to understand that we are able to reach a consensus quickly, which reflects that the possible differences are not as large as possible,” he said.
Greer said he hopes the deal will help the U.S. settle its $1.2 trillion trade deficit.
“That being said, there are a lot of foundations for both days. Just remember why we are here first – the United States has a large $1.2 trillion trade deficit, so the president declares a national emergency and imposes tariffs and we are confident that the deal we have with Chinese partners will help us work on solving the emergency in the country,” the statement added.
U.S. President Donald Trump expressed his willingness to significantly reduce current tariffs on Chinese goods by 145%.
He mentioned that 80% of China’s tariffs “seem to be correct”, while noting that Treasury Secretary Scott Bessent will eventually make the final decision.
(with ANI input)
