Odaily News The White House announced in a statement that the United States has reached a trade agreement with China in Geneva. U.S. Treasury Secretary Scott Bessent and U.S. Trade Representative Ambassador Jamieson said that the two-day negotiations in Geneva, Switzerland, made "substantial progress." The negotiations were jointly participated by Bessent, Ambassador Jamieson, the Chinese Vice Premier and two vice ministers.
The United States faces a $1.2 trillion trade deficit, and President Trump has declared a national emergency and implemented tariffs. The purpose of the negotiations is to address this "national emergency."
Both sides are satisfied with the results of the negotiations, believing that the differences are not as big as expected and the agreement was reached quickly. The specific details will be announced the next day (May 12). President Trump has been informed of the situation and will receive a comprehensive briefing the next morning. US officials are optimistic about the conclusion of the agreement, believing that it will help solve the trade deficit problem.