US-China Trade War: US Treasury Secretary Scott Besant said that talks between the two countries have been held to end the trade war between the United States and China. He said that some progress has been made between the two countries and that details of the talks will be revealed on Monday. Trade Representative Jamieson Grier expressed hope that the talks were constructive and that an agreement would be reached soon. Trump posted on his social media that the talks with China were friendly.
The trade war between the US and China, which has been ongoing for the past few years , has intensified with Donald Trump’s retaliatory tariffs. The imposition of heavy tariffs (more than 100%) on each other has led to a deterioration in trade relations between the two countries. In this context, US Treasury Secretary Scott Besant made a key announcement on Sunday. He said that some progress has been made in the talks to avert the ongoing trade war between the US and China. However, no details about the agreement were disclosed after the two-day talks in Geneva.
Besant said that the details of the talks would be revealed on Monday. He also said that President Trump was fully aware of the details of these talks. Besant, along with Trade Representative Jamieson Grier on behalf of the US, and Chinese Vice Premier He Lifeng and two Chinese deputy ministers participated in these talks on behalf of the Dragon. The end of these talks was described as an ‘agreement reached with Chinese partners’. It was said that this would help reduce the US’s international goods trade deficit of 1.2 trillion dollars. Trump, who has been furious with retaliatory tariffs, is known to be in talks with many countries .
“It was a very constructive two days of talks, if we had reached an agreement quickly, there might not have been as many differences as we thought,” Grier said. He described the Chinese representatives as “hard-hitters.” This was the first face-to-face meeting between US and Chinese representatives since the world’s two largest economies imposed tariffs of more than 100 percent on each other. Besant said the tariffs were already too high and needed to be reduced.
Recently, White House economic adviser Kevin Hassett told Fox News that China is ready to engage in talks and wants to balance its trade relations with the United States. Kevin said that foreign trade agreements with other countries are also likely to be signed soon, and said that Beijing is interested in restoring trade relations.
He cited the recent agreement with the United Kingdom as an example. According to Commerce Secretary Howard Lutnick, the USTR, led by Jamieson Grier, is currently working on two dozen agreements in development. “Every one of them is similar to the UK agreement, but each one is unique,” Hassett said. However, it is known that China has issued a warning to countries that make deals with the United States .
At the same time, Trump also made positive comments about the talks. “The talks were a friendly, but constructive process,” he posted on his own social media account, Truth Social. “We discussed many things in the meeting with China in Switzerland, and came to an agreement on many issues,” Trump said. “We want China to open its doors to American business for the benefit of both countries, and we have made great progress!!!” Trump explained.
Also Read: Chemical Industry to Bounce Back Slowly in 2025
Share
New OTT Releases This Week: Must-Watch Movies & TV Shows
Top 5 Best Test Matches by Virat Kohli
