US Treasury Secretary Scott Bessent announced significant advancements in US-China trade negotiations aimed at avoiding a trade war. Though specific details are pending, the talks, described as productive, included US trade representative Jamieson Greer and Chinese officials. Greer emphasized that the discussions revealed that differences between the nations might be smaller than previously assumed. The US Commerce Secretary Howard Lutnick expressed optimism for upcoming trade deals in the next months, aimed at reducing the substantial $1.2 trillion trade deficit and reset deteriorating trade relations.
Scott Bessent reported substantial progress in US-China trade talks, emphasizing the importance of de-escalating tariffs, which currently hinder trade between nations.
US trade representative Jamieson Greer acknowledged a constructive two days of negotiations, suggesting that differences in views may not be as wide as previously thought.
Commerce Secretary Howard Lutnick highlighted the aim to reset trade conversations, indicating the urgency to lower high tariff rates affecting US-China trade.
Lutnick predicted that multiple trade deals would emerge in the coming months, reflecting a strategic shift aimed at reducing the $1.2tn trade deficit.
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