The United States and China both claim that the trade negotiations between the two nations in Switzerland have advanced. China’s Vice Premier He Lifeng called the talks “in-depth” and “candid,” while US Treasury Secretary Scott Bessent called them “productive and constructive.”
The two met for the first time since US President Donald Trump imposed high tariffs on China in January, and they spent the whole weekend in private, closed-door talks. These were the first in-person discussions between the two nations since Beijing levied a 125% tax on some US commodities in response to President Trump’s 145% tariff on Chinese imports.
Fears of a worldwide recession were aroused by the massive levies, which also produced chaos in the financial markets. On Monday, all of the information from the discussions will be made public.
After the two-day negotiations in Geneva came to an end, US ambassador Jamieson Greer stated that “the deal we struck with our Chinese partners” will contribute to the reduction of the US’s $1.2 trillion (£901 billion) trade imbalance.
The US and China have made “substantial progress” in defusing the trade war, according to Mr. Bessent, while Vice Premier He stated that the discussions were “of great significance to the two countries but also have an important impact on the stability and development of the global economy.
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China and The US Claim Significant Progress in important Trade Negotiations
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