11.05.2025 21:30
U.S. Treasury Secretary Scott Bessent announced that trade talks with China have been productive and significant progress has been made. Bessent also noted that a comprehensive briefing on the details of the talks will be provided tomorrow in a statement titled "The U.S. announced the China trade agreement in Geneva."
U.S. Treasury Secretary Scott Bessent stated that the trade talks with China were productive and that significant progress was made during the discussions.
Following the trade talks held in Switzerland between U.S. and Chinese officials, the White House website published a statement titled "The U.S. Announced the China Trade Agreement in Geneva."
"SIGNIFICANT PROGRESS HAS BEEN MADE"
The statement included evaluations made by Bessent and U.S. Trade Representative Jamieson Greer after the trade talks with China in Switzerland. U.S. Treasury Secretary Bessent expressed his satisfaction in announcing that "we have made significant progress in the very important trade talks between the U.S. and China."
Bessent, who noted that the talks were productive, reported that they informed President Donald Trump about the discussions. Bessent stated that a comprehensive briefing regarding the details of the talks would be provided tomorrow.
U.S.: THE TALKS WERE VERY CONSTRUCTIVE
U.S. Trade Representative Greer also described the talks as "very constructive." Greer said, "It's important to understand how quickly we reached an agreement, which perhaps shows that the differences are not as great as believed."
Recalling that the U.S. has a $1.2 trillion trade deficit, Greer expressed that this is why President Trump declared a state of emergency and imposed tariffs. Greer stated, "We are confident that the agreement we made with our Chinese partners will help in our efforts to resolve the national emergency."
WHAT HAPPENED?
U.S. President Donald Trump also shared on his Truth Social account yesterday that the talks with China went very well and significant progress was made.
Trump stated, "Many things were discussed, and agreements were reached on many issues. A complete restart process was negotiated in a friendly but constructive manner."
Emphasizing that they want to see China open up to the American business world for the benefit of both China and the U.S., Trump remarked, "Significant progress has been made."
Additionally, Trump had announced additional tariffs on trade partners, including China, on April 2. Following China's retaliation, the tariff standoff between the two countries escalated, with the U.S. raising its tariffs on China to as much as 145%, while China imposed a 125% tariff on the U.S.
While the Washington administration postponed additional tariffs on other countries for 90 days, the tariffs on China went into effect.
After the escalating trade tensions, American and Chinese officials agreed to meet in Switzerland this weekend for tariff negotiations.