Why is it important?
Current duties, amounting to 145 percent, respectively for Chinese goods and 125 percent to American, they effectively limit trade between these countries.
What did Scott Bessent say?
“US President Donald Trump is fully aware of the results of these productive conversations,” Bessent said, referring to negotiations with the deputy prime minister of China He Lifeng and two deputy ministers. He added that the details of the agreement would be announced on Monday, but he refused to answer questions about the possible reduction of customs duties.
What did Jamieson Greer say?
“This agreement that we have concluded with our Chinese partners will help reduce the US deficit in world trade in goods,” said Greer. He added that the negotiations were “very constructive” and emphasized that the differences between the pages turned out to be smaller than initially thought. – It is important to understand how quickly we were able to reach an agreement – he noted.
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