The United States claims to be “great progress” two days after commercial talks with China

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Treasury Secretary Scott Paystint said on Sunday that the United States has made “great progress” for two days of commercial talks with Chinese officials in Geneva, in the first sign that Washington and Beijing may begin to decline in economic tensions.

“We will give the details tomorrow, but I can tell you that the talks were fruitful,” Pessens told reporters after he and the American Trade Representative Jameson Jarir have their meetings with Chinese Deputy Prime Minister.

Jarir said it is important to understand how quickly we were able to reach the agreement, which reflects that perhaps the differences were not as great as he may think. “He added that there were” many foundations. ”

The optimistic comments from the US negotiating team were the first sign that the countries might fill the trade war that led to financial markets and raised concerns about global supply chains.

The United States put a 145 percent tariff on the goods from China, while Beijing took average for 125 percent.

The Chinese embassy in Washington did not respond to the request for comment. The negotiating teams in the United States and Chinese met at the headquarters of the Swiss ambassador to the United Nations.

After the first day of the talks on Saturday, Trump posted on the social truth platform achieved by the United States and China “great progress.” He added: “The complete reset was negotiated in a friendly but constructive way.”

In Geneva, Jarir said the deal would help reduce trade tensions.

“The United States has a huge commercial deficit of 1.2 trillion (with the world), so the president declared a state of national emergency and imposed fees and we are confident that the deal that we justified with our Chinese partners will help us solve this national emergency.”

Until recently, there were few signs that any of the countries were ready to negotiate with the other. Chinese officials told Washington that Trump’s tariff for China was up to economic bullying and warned that Beijing would not surrender in the same way that other countries rushed to negotiate with Washington.

However, in the wake of a decrease in the bond market and signs that the volume of trade with China has decreased, BESSENT publicly warned that the situation was not sustainable.

Earlier this week, he stressed that both sides had a “common interest” in the escalation because the level of definitions imposed in both directions is “not sustainable”. He previously said that the high definitions had an effective trade ban with China.

The Chinese government media mocked what they said that the United States was floundering in commercial talks and Trump’s passion for negotiations.

CCTV’s social media account in China said that the United States “has jumped repeatedly and forth” and was trying to contact China through “different channels” to hold jumping talks.

Since the beginning of the trade war, officials and economists in both countries have also argued that the other side was more at risk.

Pesint said China had faced economic challenges and had more incentives to come to the table. But the Trump administration has become more anxious after warnings from Wall Street and after I told Walmart and Target Trump that the retailer shelves will become empty.

Yang Banban of the Chinese Chinese State Academy of Social Sciences said the US negotiation position this time was weaker, and comes against the backdrop of the dollar weakness and drowned the confidence of the international investor in the United States.

“Inflation is a major challenge (for the United States),” said Yang. “The instability of the financial market represents another challenge … compared to the past, as these concerns have intensified.”