By: Alexander Afriyie
Geneva, Switzerland – The United States and China have made significant headway in their trade negotiations, according to Secretary of the Treasury Scott Bessent and U.S. Trade Representative Ambassador Jamieson Greer. The talks, held in Geneva, were described as “very constructive” and productive, with key figures such as the Chinese Vice Premier and two Vice Ministers in attendance.
Key Highlights of the Trade Deal.
– Progress Toward Resolving Trade Deficit: The U.S. aims to address its massive $1.2 trillion trade deficit with China through this agreement.
– National Emergency Declaration: President Trump declared a national emergency and imposed tariffs to address the trade imbalance.
– Confidence in Deal’s Potential: Officials expressed confidence that the deal will help resolve the national emergency.
Quotes from Key Officials.
– Secretary Scott Bessent: “I’m happy to report that we made substantial progress between the United States and China in the very important trade talks.”
– Ambassador Jamieson Greer: “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.”
Next Steps
A complete briefing on the trade deal is expected tomorrow morning, providing further details on the agreement’s specifics and implications. Alexander Afriyie