After two days of business negotiations in Switzerland, the head of the American negotiator introduced optimism about solving tension between the two largest economies in the world and praised interviews as “great productivity”.
According to Reuters, this comes after US President Donald Trump put steep tariffs on China, which made Beijing to take retaliation, Reuters reported.
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US Finance Minister Scott Bessnt said on Sunday that the discussion has been “substantial progress”, although he provided little details about the specific issues that are negotiations.
He said that more details would come to briefing on Monday.
The US sales representative Jamieson Greer suggested that an agreement be reached, but did not provide any details. He and Bessnt briefly addressed reporters as soon as the interviews were wrapped in a majestic villa that serves as the Residence of the Swiss Ambassador to the UN in Geneva, but according to Reuters report, they did not give up questions.
“It is important to understand how quickly we could agree, which reflects that perhaps the differences were not so great if it might have thought,” Greer said.
However, he also stressed that the highest Trump priority means closing the US trade deficit with China, which last year reached a record $ 263 billion.
“We are convinced that the agreement we have concluded with our Chinese partners will help us resolve, strive to resolve this national emergency situation,” Greer said.
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The White House subsequently issued a statement entitled “The US announces the Chinese Trade Agreement in Geneva”, but offers only the same quotes of Bessnt and Greer.
The Chinese delegation organized a subsequent press conference, describing what happened as “honest, deep and constructive dialogue”. The Chinese vice president of Lifeng said both parties agreed to “introduce a consulting mechanism” for further discussions on business and economic issues.
Chinese negotiators also said that they and the American team would make a joint statement on Monday – although the timing was still uncertain.
“I think no matter when this statement is issued, it will be good news for the world,” said Li Chenggang, Chinese ambassador to the World Trade Organization.
Beijing, however, appeared to a large extent more measured in the overall direction of negotiations, in which he published on Saturday evening before the second day of negotiations, “would firmly reject any proposal that threatens the basic principles or undermines a wider cause of global equality”.
Negotiations could go a long way to stabilize world markets rooted by standoffs of USA-China, which has ships in the harbor with goods from China, which are not willing to interpret until they receive the final word about tariffs.
Last month, US President Trump raised US tariffs to a total of 145%, which made China respond with 125% of American import tariff.
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In essence, these steep tariffs have led both nations to stop trading with many products and disrupted the business relationship that last year exceeded $ 660 billion.
Although Trump’s administration placed tariffs in more countries, the business conflict with China was the most serious.
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The remaining 125% in tariffs are tied to a long -term dispute that has begun during the first term of Trump and has been added to previous tariffs since then. As a result, some Chinese goods now face tariffs exceeding 145%.
(With Reuters inputs)
(Tagstotranslate) China
