President Donald Trump speaks during a press conference in the White House Roosevelt room in Washington, DC, on May 12, 2025.
Andrew Harnik | Getty Images News | Getty images
President Donald Trump said on Monday that China “agreed to open” after the two countries announced that they would temporarily reduce most of the price on each other products.
Trump offered few details on this development, but said it was “perhaps the most important thing” to get out of the high level level trade negotiations Between the two superpowers of Geneva, Switzerland, during the weekend.
Trump said these alleged commitments had not yet been cemented.
“We have to get it from paper,” he said to White House Before signing a decree on the prices of American drugs. “But they agreed to open China.”
Trump’s comments occurred a few hours after us and Chinese officials said they had entered into an agreement to suspend most of the prices and other commercial barriers for 90 days.
The United States has agreed to temporarily reduce prices on China to 30%, compared to 145%. Beijing said it would reduce tariffs on American products to 10%, compared to 125%.
Trump said on Monday morning that prices on China would not be 145%, even if a longer -term agreement cannot be reached once the 90 -day break is expires.
“But they would increase considerably,” added Trump.
The American side of the temporary agreement reduces Trump’s “reciprocal” prices on China to 10%. The United States also maintains 20% prices which have previously been imposed on allegations concerning the role of China in the fine of fentanyl in America.
The United States has said it would also keep prices that were in place for specific Chinese products, including steel and aluminum, before early April.
China “will also suspect or remove non-pricing countermeasures” that it has imposed in the United States since April 2, according to the White House.
The functions that Trump slapped in China in April has indeed established a commercial embargo with one of the largest providers of American goods.
The agreement to temporarily suspend the prices should start on Wednesday.
The Chinese Embassy in the United States did not immediately respond to the request for CNBC comments on Trump’s remarks.