The US announced it has reached a trade deal with China following talks in Geneva over a tariff dispute. Details of the deal have not yet been announced. Before the talks, President Trump had indicated that he was ready to reduce the tariff rate on China from the current 145 percent to 80 percent.
He said in a post on internet media that it depends on Scott B. I am happy to report that we have made substantial progress between the US and China in very important trade talks. Talks between the US and China over the tariff dispute continued for the second day in Jeleva on Sunday. Both sides discussed how to reduce the trade war, which threatens to cause major damage to the world economy.
Chinese Vice Premier He Lifeng held face-to-face meetings with US Treasury Secretary Scott Bessant and US Trade Representative Jameson Greer, the first since the world’s two largest economies imposed tariffs of over 100 per cent on each other’s goods. Talks continued for three-and-a-half hours in Geneva on Sunday after eight hours of discussions on Saturday. Bessant declined to speak to reporters at his hotel before leaving for the talks on Sunday.