China, White House and small packages
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China, tariffs and US Trade Representative
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After second day of talks with the U.S., Chinese Vice Premier He Lifeng said trade talks with the U.S. “achieved substantial progress and reached important consensus.”
The White House says the U.S. and China have agreed to suspend for 90 days most of the tariffs imposed against each other over the last couple months.
Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer told reporters that more details would be provided on Monday.
Officials wrapped up two days of bargaining in Switzerland and touted "substantial progress." More details are expected on Monday.
It’s important to understand how quickly we were able to come to an agreement, which reflects that perhaps the differences were not as large as maybe thought.”
Representatives from China and the U.S. met for a second day Sunday to discuss trade policies amid fallout from President Donald Trump’s tariff plan.
Both nations pledged to cut their broad, ballooning tariffs after weekend talks. US tariffs dropped to 30% from 145%, while China’s moved to 10% from 125%, per a joint statement
The U.S. had been slapping fresh 145% tariffs on products coming into the country from China. Meanwhile, China responded with 125% tariffs on incoming American items. In a joint statement released by The White House on Monday,