Geneva [Switzerland], May 12 (ANI): The United States has announced a significant trade agreement with China in Geneva, according to a statement from the White House.
Secretary of the Treasury, Scott Bessent, confirmed that substantial progress had been made between the two nations during crucial trade talks. “I’m happy to report that we made substantial progress between the United States and China in the very important trade talks,” Bessent said, expressing appreciation for the Swiss government’s hospitality in providing the venue for these discussions.
Bessent added that the talks had been productive, with Vice Premier and two vice ministers from China, as well as Ambassador Jamieson, involved in the negotiations. He also mentioned that President Trump had been fully informed of the developments, and a complete briefing would be provided the following morning.
US Trade Representative, Ambassador Jamieson Greer, also remarked on the swift resolution of issues during the two-day talks. “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 an agreement, which reflects that perhaps the differences were not as large as maybe thought,” Greer stated.
Greer emphasized that the deal could help address the United States’ massive $1.2 trillion trade deficit with China. “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,” he said.
President Donald Trump also hinted at the possibility of significantly reducing the US’s existing 145% tariff on Chinese goods, noting that an 80% tariff on China “seems right.” However, he mentioned that Treasury Secretary Bessent would have the final say on this matter.
The deal between the two nations is seen as a step forward in resolving ongoing trade tensions and could have significant implications for global trade relations. (ANI)
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