President Donald Trump He said on Saturday (10) that there is “Great progress” In commercial negotiations between USA and ChinaAmid a possible frost in the resulting trade war Your huge definitions .
“A very good meeting with China in Switzerland. Many things have been discussed, many of which have been settled. Full redefinition has been circulated friendly but constructive. We want to see, for the sake of China and the United States, China’s opening of American companies. Many progress !!! Trump posted on the social truth.
This was Trump’s first comment a day after the Geneva negotiations between the American authorities, including Treasury Secretary Scott Payet, American commercial actor Jameson Jarir and the Chinese authorities.
An enlightened source of meetings told CNN that the negotiations will continue on Sunday (11).
Earlier this week, Bessent asked the public not to expect a major trade agreement in the meetings, but he admitted that this is an important step in negotiations.
The Deputy Prime Minister said he is Living negotiations on the Chinese side. A brief report.
Chinese government news agency Xinhua described the negotiations in Switzerland as an “important step to solve the problem.”
“However, the ultimate solution requires strategic patience and adequate design, as well as fair support from the international community,” said Shenhua.
The United States imposed a rate of at least 145 % on most Chinese imports, and China responded at a rate of 125 % on most American imports. As a result, trade between the two sides Fall significantly, According to logistical services experts.
Reducing this rate to half may not be sufficient to significantly change trade levels. Economists say 50 % is the decisive limit for a relatively natural trade relationship between the two countries.
On Friday, hours after leaving Bessent and Greer to Switzerland, Trump raised the ability to reduce the rates of Chinese products to 80 %, with China’s demand “to open its market to the United States.”
Trump said in a Publishing on social truth .
A mixture of a smaller amount of products that reach the United States and increase the import costs that have already began to raise prices for Americans.
Goldman Sachs said on Thursday that there is a major an enlarged measure that will double to 4 % by the end of the year due to Trump’s trade war.
E With cargo ships less than 145 % Now come to Porto, the Trade Agreement will not immediately reduce prices.
The saying that Americans depend on a wide range of Chinese products is to reduce their present in daily life.
Shoes, clothing, hardware, fine chips, children’s tools, games, sports equipment, office machines, and more access to the United States from China in great numbers.
But now these imports are decreasing. Imports to the United States are expected to decrease during the second half of 2025 by at least 20 % during the previous year, according to the National Federation of Retail.
China’s decline will be more clear. JPMorgan investment bank provides a decrease from 75 % to 80 % in imports there.
The trade war has already affected the American economy. the GDP (GDP) From the country, the widest scale of the American economy has presented the first separate shrinkage since the beginning of 2022, when importers work to bring goods before imposing punitive definitions.
The impact of very high definitions is extensively in China, whose exports in the United States decreased sharply in April.
Chinese shipments added to the United States $ 33 billion Last month – impressive decrease by 21 % compared to us 41.8 billion dollars Registered in April 2024, according to the CNN account.
The American definitions also affected the manufacturing sector in China. Chinese industrial activity I signed a faster pace In 16 months in April, Beijing’s efforts to implement new economic stimuli increased.
The news that Bessent and Greer will meet with their Chinese counterparts in Geneva increased the hopes of violation between the two countries.
The United States and China are the largest and second largest economy in the world, respectively, are larger than the next twenty economies together, According to the data of the World Bank.
Trump also told a governor host on Wednesday It will raise the case From the Hong Kong media pole, Jimmy Lay, “As part of negotiation.”
Lay, the former combat editor who is now closed in daily tablide, there were continuous stones at Beijing shoes, in the middle of the national security experience that could be condemned with life imprisonment.
CCTV did not say whether Lai participated in the negotiations.
Professor says there is a structural problem in the global economy