The White House has suggested a trade deal between the United States and China is imminent, with intense talks between the two superpowers continuing in Geneva, Switzerland, as President Donald Trump heads to the Middle East.
“I’m happy to report that we made substantial progress between the United States and China in the very important trade talks,” U.S. Treasury Secretary Scott Bessent said.
“We will be giving details tomorrow, but I can tell you that the talks were productive. We had the vice premier, two vice ministers, who were integrally involved, Ambassador Jamieson, and myself.
“And I spoke to President Trump, as did Ambassador Jamieson, last night, and he is fully informed of what is going on. So, there will be a complete briefing tomorrow morning.”
“This was, as the Secretary pointed out, a very constructive two days. 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” U.S. Trade Representative Ambassador Jamieson Greer said.
“That being said, there was a lot of groundwork that went into these two days.
“Just remember why we’re here in the first place — the United States has a massive US$1.2 trillion trade deficit, so 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 work toward resolving that national emergency.”
Trump engaging on all fronts
Wall Street futures have risen on hopes that negotiations between the two nations bring a positive outcome, as U.S. President Donald Trump travels to the Middle East where he expects to negotiate tariffs and a flurry of other economically impactful deals.
The tour includes talks with the oil-rich Arab states of Saudi Arabia, UAE, Bahrain, Kuwait, Qatar and Oman.
Find out more: US averages mostly lower; China trade talks in focus
Trump has also been quite vocal on his social media platform Truth Social in the past few hours, with remarks on the Russia-Ukraine conflict, jobs, and an upcoming announcement on healthcare and pharmaceutical costs.
On the war:
On jobs:
On pharmaceuticals:
