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US and China Reach New Agreement on Tariffs After Ongoing Trade Negotiations in Geneva

US and China Reach New Agreement on Tariffs After Ongoing Trade Negotiations in Geneva

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The United States and China have reached a preliminary trade agreement after two days of negotiations in Geneva, marking a potential thaw in their strained economic relations. While specific details are expected to be released on Monday, U.S. Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer described the talks as "productive".

Guy Parmelin
1. If a road map can emerge and they decide to continue discussions, that will lower the tensions.
Donald Trump
Republican Party
1. A very good meeting today with China, in Switzerland. Many things discussed, much agreed to. A total reset negotiated in a friendly, but constructive, manner. We want to see, for the good of both China and the U.S., an opening up of China to American business. Great progress made!!!
2. There could be an exception at some point. We'll see.
Howard Lutnick
US Department of Commerce
1. The president would like to work it out with China. He would like to de-escalate the situation.
2. The rest of the world is 10% [tariffs]. So don't overdo it.
3. Prices are going to stay stable once this policy is done.
Jamieson Greer
US Trade Representative
1. Just remember why we're here in the first place.
2. And this was, as the secretary pointed out, a very constructive two days.
3. Just remember why we're here in the first place -- the United States has a massive $1.2 trillion trade deficit, so the President declared a national emergency and imposed tariffs as we're confident that the deal we struck with our Chinese partners will help us to work toward resolving that national emergency.
4. 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. That being said, there was a lot of groundwork that went into these two days.
Kevin Hassett
White House National Economic Council
1. What's going to happen in all likelihood is that relationships are going to be rebooted. It looks like the Chinese are very very eager to play ball and renormalise things … they really want to rebuild a relationship that's great for both of us.
Scott Bessent
US Treasury Department
1. 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 Jamiesson, last night, and he is fully informed of what is going on.
2. I'm happy to report that we've made substantial progress between the United States and China in the very important trade talks.
Dmitry Grozoubinski
Geneva Trade Platform
1. The two delegations will be feeling one another out — neither side particularly benefits from this current iteration of the trade war continuing.
Nathan Sheets
Citigroup
1. It's nice that they're talking. But my expectations for the actual outcomes of this first round of talks is pretty limited.

US and China Reach New Agreement on Tariffs After Ongoing Trade Negotiations in Geneva

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