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In a media information after a second day full of discussions with the US negotiators on Sunday, the Chinese Vice Prime Minister said Lifeng that trade talks with the USA “have made considerable progress and made an important consensus”.
On Sunday, the White House stated that it had reached a deal without giving details.
While the US trade representative Jamieson Greer described it as “deal”, the finance minister Scott Bessent, who was in Switzerland because of the talks, said “significant progress” was achieved.
President Donald Trump expressed the willingness to relieve the tariffs in China on Friday and said on social media that it seems “right” to reduce taxes from 145% to 80%.
The US Finance Minister Scott Bessent and the US trade representative Jamieson Greer spoke to the media after the tariff discussions between high -ranking officials from the USA and China were spoken in Geneva in Geneva in Geneva in Geneva in the United Nations in Geneva.
Valentin Flauraud/AFP via Getty Images
Trump last month increased the tariffs in China and prompted China to take revenge with 125% tariffs for US goods. The Tit-for-Tat measures triggered a trade war with the third largest US trade partner, which last year made imports worth almost $ 440 billion.
The tariffs triggered warnings from a number of companies about the risk of price increases for US buyers.
China said that on Monday it would publish a joint explanation with the United States about the agreement made on Sunday.
“The two sides agreed to determine a consultation mechanism for commercial and economic issues, to identify the main characters on each side and carry out further consultations regarding the trade and economic issues of their respective concerns,” said the Chinese Vice President.
He said that China’s attitude was “clear and consistent” and that it does not want a trade war.
“China does not want to wage a trade war because trade wars do not produce. But if the United States insisted to force this war on us, China will not be afraid of it, and we will fight until the end,” he said.
Chinese officials described the meeting as “productive” and said that “an important first step [was] taken from the two sides to properly remedy their differences from the same dialogue. “
When asked by a reporter, whether the potential business would help the White House to address the US trade deficit, China moved to the joint explanation of Monday.
“China always follows the winners in his commercial and business negotiations, so there is a possible deal that can be achieved [inaud]”Said the trader Li Chengang.
When asked about the atmosphere of the sessions, the Chinese trade negotiator Li Chengang characterized them as “mutual respect” and “sincerity”.
-Abc news’ Max Zahn contributed to this report.