The US announced a trade deal with China

Its details should be announced during the briefing.

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

According to a White House statement , there will be a briefing this morning to unveil the details of the new deal. According to Treasury Secretary Scott Bessant, the parties have made significant progress in the very important trade negotiations:

“The Swiss government was very kind to give us this wonderful platform, and I think it led to great productivity.”

US Trade Representative Jamieson Greer said the speed with which the sides reached an agreement suggested that the differences may not have been as wide as previously thought.

“A lot of work has been done in these two days. Just remember why we are here – the United States has a huge trade deficit of $1.2 trillion, which is why the president declared a national emergency and imposed tariffs, and we are confident that the agreement that we have made with our Chinese partners will help us work to resolve this emergency,” he added.

US-China trade war

As you know, the tariff war between the US and China has become a new round of a protracted trade conflict that began in 2018. This year’s escalation has caused a wave of political and economic consequences that have engulfed global markets, supplies, and international relations.

In the first half of 2025, Donald Trump’s administration raised tariffs on Chinese goods to a record 145%.

Washington explained its decision by unfair competition from China, dumping on electric cars, microchips and steel, and violation of intellectual property rights.

In response, China raised tariffs to 125% on a number of American goods, including agricultural products, medical equipment, energy, and IT products.

Subsequently, the United States announced the start of negotiations on a trade agreement between the countries.

(C)UNIAN 2025