Treasury Secretary Scott Bescent said on Sunday that the Trump administration has advanced trade negotiations with China.
“I'll explain the details tomorrow,” however, Bescent told media members on Sunday from Switzerland. And I spoke to President Trump. Just like Ambassador Jamieson last night, he is fully informed of what is going on. ”
The Trump administration levelled tariffs on Chinese goods to 145% as the president aims to bring equality to the chronic trade deficit with foreign countries. Trump suspended mutual tariff plans for April 2 in dozens of countries. The nations were sought by the administration to make trade transactions, but he raised China's anti after Beijing replied with Trump's trade policy with its own tariffs, including a 125% liability tax on US goods.
Bescent and US trade representative Jamieson Greer met with Chinese counterparts in Switzerland this weekend to discuss the country's economic futures that Trump spoke on the True Social Post on Saturday evening.
Trump “resets total” with China during tariff talks in Geneva
US Treasury Secretary Scott Bescent is said to be one of the English targets. (Tierney L. Cross/Bloomberg via Getty Images)
“A lot has been discussed and many agreed. The complete reset was negotiated in a friendly but constructive way. We want to see the opening from China to American business for the benefit of both China and the US. He posted to the Society of Truth.
China's Commerce Department said earlier this month that officials were “evaluating” offers from the Trump administration to hold trade talks on US 145% tariffs on Chinese products.
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Donald Trump smiles at the US presidential election at the US fest in Turning Point USA at the Phoenix Convention Center held in Phoenix, Arizona on December 22, 2024 (Rebecca Noble/Getty Images)
“The US has recently hoped to take initiatives and speak to China on many occasions to communicate information to China through related parties,” Reuters said.
Trump and the administration previously said on April 8th that they are willing to negotiate trade with China, including the president who said, “We're waiting for their calls. That's going to happen.”
Trump says 80% tariffs on China are “right” ahead of weekend talks with Beijing
The latest information on China shows that the first trade deal signed since the announcement of Trump's “liberation date” on April 2, after the Trump administration signed separate trade deals with the UK last week, levelled tariffs on nations around the world as the administration tried to end trade barriers for US goods and even the playing field for US exports.
President Donald Trump and Chinese leader Xi Jinping
“The agreement has led the UK to join the United States by asserting that mutual relations and fairness are important and important principles of international trade,” Trump said Thursday. “This transaction includes billions of dollars in market access to American exports, particularly in agriculture, and has dramatically increased access to American beef, ethanol and all products produced by great farmers.”
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The UK trade maintains existing 10% tariffs on British goods and removes import taxes on items such as steel and automobiles.
