White House reaches deal with China after trade war
Donald Trump’s government has reached a trade deal with China, top officials revealed.
Two days of ‘tough’ talks between the US and China have ended with Trump officials announcing they reached an agreement today after the US President caused global upheaval with sweeping tariffs.
Trump had issued unprecedented 145% tariffs on Chinese products, which disrupted trade between the countries.
The US Trade Representative, Jamieson Greer, suggested that the feuding superpowers had reached an agreement after a ‘national emergency’ following the Geneva talks.
He said: ‘The president declared a national emergency and imposed tariffs, and we’re confident that the deal we struck with our Chinese partners will help us to resolve work toward resolving that national emergency.
‘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.’
Trump’s Treasury Secretary Scott Bessent revealed ‘substantial progress between the United States and China in the very important trade talks.’
What is in the new US-China trade agreement?
Details of the deal are yet to be revealed.
Bessent said more would be announced tomorrow morning.
It comes after China and the US – the world’s largest economies – slapped tariffs above 100% on each others goods.
The deal comes as a surprise as Trump’s team had downplayed expectations that a deal would be reached this weekend, according to CNN.
Greer described his Chinese counterparts as ‘very tough negotiators,’ but that the last two days were ‘very constructive.’
Meanwhile, the UK and the US announced their own bilateral trade deal last week after a phone call between Prime Minister Sir Keir Starmer and Trump.
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