Monday, 07 July 2025

BREAKING: White House: U.S. Announces China Trade Deal in Geneva

100 Percent Fed Up
Hits: 16

And, there it is: we have a trade deal!

The White House just announced that the United States has secured a huge trade deal with China.

This very well could mean that the trade war with China is coming to an end. In other words, the tariffs worked, as President Trump promised!

Negotiations were held in Geneva this weekend between U.S. Treasury Secretary Scott Bessent, U.S. Trade Representative Jamieson Greer, and Chinese Vice Premier He Lifeng.

Check it out:

The exact details of the U.S.-China trade deal have yet to be revealed.

ADVERTISEMENT

Specific will be unveiled on Monday.

Treasury Secretary Scott Bessent announced the deal:

U.S. Trade Representative Jamieson Greer also commented on the talks:

The White House confirmed the significant deal in a press release:

Full text of the White House’s statement:

Secretary of the Treasury Scott Bessent: “I’m happy to report that we made substantial progress between the United States and China in the very important trade talks. First, I want to thank our Swiss host. The Swiss government has been very kind in providing us this wonderful venue, and I think that led to a great deal of productivity we’ve seen. We will be giving details tomorrow, but I can tell you that the talks were productive. We had the vice premier, two vice ministers, who were integrally involved, Ambassador Jamieson, and myself. And I spoke to President Trump, as did Ambassador Jamieson, last night, and he is fully informed of what is going on. So, there will be a complete briefing tomorrow morning.”

U.S. Trade Representative Ambassador Jamieson Greer: “This was, as the Secretary pointed out, a very constructive two days. It’s important to understand how quickly we were able to come to agreement, which reflects that perhaps the differences were not so large as maybe thought. That being said, there was a lot of groundwork that went into these two days. Just remember why we’re here in the first place — the United States has a massive $1.2 trillion trade deficit, so the President declared a national emergency and imposed tariffs, and we’re confident that the deal we struck with our Chinese partners will help us to work toward resolving that national emergency.”

The New York Post provided some background:

The announcement comes after the Trump administration unveiled a framework for a trade deal with the United Kingdom last week.

ADVERTISEMENT

China is America’s third-largest trading partner and has long drawn ire from Trump over its practices, including exporting deadly fentanyl, currency manipulation, intellectual property theft, forced technology transfers and more.

Some estimates have pegged annual Chinese IP theft from the US at $225 to $600 billion annually.

Last year, the US had a $295.4 billion trade deficit with China, a major pet peeve of Trump’s.

During his second term, Trump slapped a 20% tariff against China, seeking concessions on the fentanyl crisis.

Then on “Liberation Day,” he unveiled so-called “reciprocal” tariffs on Beijing, prompting swift retaliation.

Despite the vast differences, Trump administration officials claim that they made remarkable progress with China in about two days.

The winning just keeps piling on…

By the way, we predicted this on Friday:

Get ready for the markets to BOOM this week!

ADVERTISEMENT

Hope you held onto those stocks…

This is a Guest Post from our friends over at WLTReport.

View the original article here.


Source link

Search