US Treasury Secretary Scott Payette at the hearing of the Financial Services Committee in the House of Representatives entitled “The annual certificate of the Treasury Secretary in the case of the International Financial System”, in the Capitol Hill, in Washington, the United States, May 7, 2025.
Nathan Howard Reuters
White House on Sunday Declare A commercial deal with China Without providing details, yet Trump Administration officials spent the weekend in negotiating with their Chinese counterparts.
Although the details of the deal are still unclear, any escalation in the ongoing trade war can bring the relief that affects the need for a global economy that has been wrapped since President Donald Trump April 2 The tariff announcement.
Treasury Secretary Scott bet On Sunday, he said that the commercial talks that took place in Geneva during the weekend were “fruitful”.
He said Talks resulted “A lot” of productivity and it will give more details in full briefing on Monday morning.
Pesin also said that he and the American Trade Representative Jameson Jarir They talked to the president Donald Trump On Saturday evening and “he is fully aware” about discussions.
Jarir said during the notes on Sunday that the officials had reached the form of a “deal”, but they did not provide any details. He praised the discussions as “very constructive”.
Jarir said: “It is important to understand how quickly we can reach the agreement, which reflects that the differences may not have been large as he may think.”
He added: “We are confident that the deal that we justified with our Chinese partners will help us work to solve this national emergency.”
Chinese officials who participated in the meetings also spoke positively.
The Vice President of the People’s Republic of China, who said Living said the meeting “made great progress and reached an important consensus.”
“The two sides agreed to create a consulting mechanism for commercial and economic issues,” Leving said.
China’s international trade representative Lee Chenggang suggested that there will be a statement that will soon come with more details about negotiations, but he did not say when the statement would be issued.
“As we say in China, if the dishes are delicious, then the timing is not a matter,” said Chenggang.
“I think it is regardless of the time of the release of this statement, it will be great news. Good news for the world.”
High -risk negotiations in Switzerland come in the end of this week amid the large -scale economic uncertainty caused by The United States of China’s commercial war.
The two countries were involved in a tariff tariff for the weeks that have passed after Trump announced 145 % tariffs on Beijing. In response, China The fees were raised On American goods to 125 %.
The confrontation led to the cavity of the financial markets and raised fears of Less goods And the rise in consumer prices.
Trump praised the first day of discussions, as he wrote that US officials held a “very good meeting with China” on Saturday Social truth.
“Many of the things that were discussed,” Trump wrote. ” “Full resets have been negotiated in a friendly but constructive way.”
Pesin said that he and Jarir met with the Deputy Prime Minister in China, as well as two deputies of ministers, who was called the Treasury Secretary “involved in an integrated manner” in the discussions.
https://image.cnbcfm.com/api/v1/image/108142312-17466366602025-05-07t164106z_1072133572_rc23dea3zh2f_rtrmadp_0_usa-congress-bessent.jpeg?v=1746636680&w=1920&h=1080
Source link