China, trade and White House
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China, Trump and in tariffs
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Small packages from China are still subject to tariffs of 120%, a White House official confirmed Monday — a major blow for U.S. consumers seeking cheap goods from e-commerce retailers like Shein and Temu.
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.
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 Geneva talks come after President Trump slapped 145% tariffs on U.S. imports from China and Beijing retaliated with a 125% levy on U.S. goods.
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.
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.”
Officials wrapped up two days of bargaining in Switzerland and touted "substantial progress." More details are expected on Monday.
The US has confirmed it has struck a trade deal with China following crunch talks that took place in Switzerland over the weekend. In a White House press release, Treasury Secretary said the two sides had made "substantial progress" in the "very important trade talks. Full details or the US-China trade deal are expected to be revealed on Monday.