The United States, China is “great progress” in the tariff talks in Geneva Trade War News

Beijing and Washington praised the progress made at the end of the weekend of closed discussions in Switzerland, which aims to abolish the trade tensions raised by US President Donald Trump aggressively worldwide in March and China’s revenge.

In the aftermath of the talks on Sunday in the Geneva Villa, the Swiss ambassador to the United Nations, US Treasury Secretary Scott Beesen told reporters: “I am pleased to inform us that we have made great progress between the United States and China in very important commercial talks.”

“The conversations were fruitful,” added.

Commercial actor Jameson Jarir, who also participated in the two days Closed conversations With the Chinese Deputy Prime Minister, Leving said, the differences between the two sides were not as great as he thought.

Lifeg also praised what he called “important progress” in commercial talks with the United States.

Speaking to the journalists in Geneva, he said that the atmosphere of talks with Bessent and Greer was frank, in -depth and objective, echoing a similar language from the American delegation.

Both countries said they would perform a joint statement in the talks on Monday.

After the first day of the negotiations, Trump had published on his social network, Social, that the discussions were “very good”, describing it as “a complete reset that was negotiated in a friendly but constructive way.”

Beijing did not comment on Sunday, but on Saturday, the Chinese News Agency described the talks as “an important step in enhancing the solution to the issue.”

The Chinese delegation was expected to speak to the media on Sunday evening.

The meetings were distinguished by the first time that senior officials of the world’s largest economist met face to address the issue of trade since Trump slapped new high -end drawings on China last month, which sparked strong revenge on Beijing.

“The talks reflect that the current situation of commercial relations with these very high definitions is eventually in the interest of neither the United States nor China,” said City Group Group Nathan at Agence France -Presse. He called for the definitions as a “suggestion of loss.”

The definitions of Trump on the Asian manufacturing giant since the beginning of the year amounted to 145 percent, with the US cumulative duties on some Chinese goods reaching 245 percent.

Maintaining expectations is low

In revenge, China put a 125 percent tariff on American goods.

Before the meeting, Trump indicated that it may reduce the definitions, indicating social media that “a 80 % tariff in China seems correct!”

However, his press secretary, Caroline Levitte, later showed that the United States will not reduce definitions unilaterally, as China will also need concessions.

With going to the meeting, both sides have reduced significant changes in trade relations.

Bessent emphasized the focus on “canceling the escalation” and not “a big commercial deal”, while Beijing insisted that the United States had to reduce the definitions first.

Gary Hofbauer, a senior colleague who is not resident at the Peterson Institute for International Economy, said the fact that the talks occur “is good news for business and financial markets.”

But Huffbauer warned that he was “very skeptical that there will be any return to something like the American -Chinese normal trade relations.” He said that the customs tariff rate from 70 to 80 percent is still likely to be raised to half of the bilateral trade.

Among some of Trump’s most moderate officials, such as US Trade Secretary Howard Lootnick, “there is awareness that China is better prepared to deal with this trade war of the United States.”

The Geneva meeting comes after Trump A trade agreement with the United Kingdom revealed On Thursday, the first deal with any country since he unleashed his global introductory work, but maintains a 10 percent basic tax on most British goods.

After the commercial declaration of the United States of America, analysts expressed pessimism about the possibility that negotiations will lead to any major changes in the trade relationship between the United States and China.

In fact, in fact, Trump claimed that the talks made “great progress !!”

“We want, for the benefit of China and the United States, to open China to American business,” he said.