President Donald Trump mentioned on Monday that officials from both the U.S. and China might communicate with President Xi Jinping by the end of this week following significant progress in trade talks over the weekend.
While preparing to depart for the Middle East, Trump hinted at a possible conversation with Xi during a press conference where he was signing an executive order.
“They were quite pleased to work with us, and the relationship is very positive. I expect to talk to President Xi towards the end of the week,” Trump said.
Treasury Secretary Scott Becent and U.S. Trade Representative Jamieson Greer were in Geneva, Switzerland, over the weekend engaging in extensive trade discussions alongside Chinese representatives.
A recent agreement has led to a significant 90-day reduction in tariffs, down by 115%, although a 10% tariff will still apply.
“This doesn’t cover any tariffs that might be placed on cars, steel, aluminum, or pharmaceuticals,” Trump added on Monday.
The country plans to address “larger structural issues” apart from the 90-day tariff reductions.
Trump underscored that he was “very amicable in Geneva.”
On Sunday, Greer noted the rapid pace at which consensus was reached.
“It’s crucial to recognize how quickly we came to an agreement, suggesting the differences may not have been as significant as previously believed,” Greer remarked.
“We think that collaborating with our Chinese partners will aid us in addressing the current crisis,” he further stated.
This development marks a second significant stride in trade negotiations since Trump introduced Freedom Day tariffs on April 2nd. Just last week, Trump and British Prime Minister Kiel Starmer unveiled a trade agreement between the U.S. and the UK.
