The American main negotiator in commercial negotiations with China cited “great productivity” to resolve the differences between the two main economic powers in the world after the officials wrapped two days of negotiation in Switzerland after the president Donald Trump Strong prices and reprisals from Beijing.
US Treasury Secretary Scott Bessent said on Sunday that there was a “substantial progress” during the weekend sessions but offered rare details on what negotiations involved. He said the details would come during a briefing the next day.
There were no immediate comments from Chinese representatives during talks.
Bessent was more prudent in the assessment of the playing state than his partner, the US trade representative Jamieson Greer.
“It is important to understand how fast we have agreed, which reflects that the differences may not have been so great on this subject,” said Greer, who did not say what he was referring to.
Neither Bessent, who has spoken of any agreement or agreement, nor Greer answered questions after making statements at a press conference.
The White House subsequently published a statement entitled “The United States announced the Chinese trade agreement in Geneva”, but only offering the same quotes from Bessent and Greer.
Trump himself also brought a positive tone, suggesting on social networks on Saturday evening that “great progress” were made to what he suggested could be a “total reset” on the prices that put the global economy in advance.
Beijing, however, was more measured on the overall direction of negotiations. China, in an editorial of its press agency managed by the State, published before the start of Sunday of negotiations, declared that it “would firmly reject any proposal which compromises the basic principles or would undermine the wider cause of world equity”.
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The discussions took place in a majestic villa which serves as a residence of the Swiss ambassador to the United Nations.
Negotiations could help stabilize ships in the port with goods from China does not want to unload until they get the last word on the prices.
Trump last month raised American prices on China to a 145% handsetAnd China retaliated by hitting American imports with a 125%tax. The rates that are high essentially constitute boycott countries the products of the other, disturbing the trade which exceeded last year 660 billion dollars.
In his editorial, Xinhua said: “talks should never be a pretext for coercion or continuous extortion, and China will firmly reject any proposal that compromises the basic principles or undermines the broader cause of world equity.”
However, the main members of the Trump administration followed the example of the president by emphasizing that a reset of American-Chinese trade relations could be in sight.
“Secretary Bessent clearly said that one of his goals was to defuse,” said US trade secretary Howard Lunick, who was not in Geneva, “Fox News Sunday”. He added that the United States and China have both imposed prices which are “too high to do business, but that is why they are talking at the moment”.
“We are the consumer of the world. Everyone wants to sell their products here,” said Libnick. They must therefore do business with American and we use the power of our economy to open their economy to our exporters. »»
Kevin Hassett, director of the National Economic Council of the White House, told Fox News Channel “Sunday Morning Futures” that “what will happen in all likelihood is that relations will be restarted. It seems that the Chinese are very, very eager to play ball and rename things. ”
“We are essentially starting again, from scratch with the Chinese,” said Hassett “and they seem to think that they really want to rebuild a relationship that is great for both of us.”
The talks mark the first time that the parties met face to face to discuss questions. And although the prospects for breakthrough are light, even a small drop in prices, especially if it was taken simultaneously, would help restore some confidence.
“Negotiations to begin to defuse the growth of the United States-the United States’s trade war is seriously necessary and it is a positive sign that the two parties were able to accelerate gracefully beyond their quarrels which had to call first,” said Jake Werner, director of the Asian program in eastern Quincy Institute for Responsible Statcraft, in an email.
The Trump administration has imposed prices on the countries of the world, but its fight with China was the most intense. Trump import taxes on goods from China include a 20% load intended to put pressure on Beijing to stop the flow of the synthetic opioid fentanyl in the United States.
The remaining 125% involve a dispute that dates back to the first Mandate of Trump and occurs at the top of the prices he levied from China at the time, which means that total prices on certain Chinese products can exceed 145%.
& Copy 2025 the Canadian press