US Announces Trade Agreement With China

The parties came to an agreement after two days of talks in Geneva.

On Sunday, May 11, the United States announced a trade agreement with China. The two sides reached an agreement after two days of talks in Geneva.

According to a White House statement, a briefing will be held in the morning to reveal details of the new agreement. Treasury Secretary Scott Bessent said the two sides made significant progress in the very important trade talks:

"The Swiss government has been very gracious in giving us this wonderful venue, and I think that has led to a lot of productivity."

U.S. Trade Representative Jamison Greer said the speed with which the two sides came to agreement indicates that the differences may not have been as great as thought.

"A lot of work has been accomplished in these two days. Just remember why we're here - the United States has a huge $1.2 trillion trade deficit, so the president has declared a national emergency and imposed tariffs, and we're confident that the agreement we've reached with our Chinese partners will help us work to address that emergency," he added.

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