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Posted on 05/11/2025 11:35:17 AM PDT by Navy Patriot
Treasury Secretary Scott Bessent on Sunday reported "substantial progress" in U.S. talks with China's top economic officials to de-escalate a damaging trade war, but offered no details of an agreement reached as two days of negotiations wrapped up in Geneva.
Bessent told reporters that details would be announced on Monday and that U.S. President Donald Trump was fully aware of the results of the "productive talks."
U.S. Trade Representative Jamieson Greer, who participated in the talks with Bessent, Chinese Vice Premier He Lifeng and two Chinese vice ministers, described the conclusion as "a deal we struck with our Chinese partners" that will help reduce the $1.2 trillion U.S. global goods trade deficit.
"And 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," Greer said, adding that the Chinese officials were "tough negotiators"
The meeting was the first face-to-face interaction between Bessent, Greer and He since the world's two largest economies imposed tariffs well above 100% on each other's goods.
Although Bessent has said the bilateral tariffs were too high and needed to come down in a de-escalation move, he did not offer any details of reductions agreed and took no questions from reporters.
(Excerpt) Read more at newsmax.com ...
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The Chinese have never followed through on any of their commitments.
And never will, yet get continued reward of trade. Even after ip theft, covid, sending drugs to our country, etc etc.
Probably so. Once the US has a signed fair trade agreement with China and they break it...back to 145% tariffs. They either honor the trade agreement or watch more of their cargo ships (Cosco) line up to the horizon, not mention sitting idly outside US ports. Sure, China has other nations that will accept their junk, but USA is their top consumer.
a congressional estimate in the U.S. placed the cost of Chinese intellectual property infringement at 225–600 billion dollars yearly, [1] and,
a yearslong malicious cyber operation spearheaded by the notorious Chinese state actor, APT 41, siphoned off an estimated trillions in intellectual property theft from approximately 30 multinational companies within the manufacturing, energy and pharmaceutical sectors, [2]perhaps tariffs should be correlated to the % of such theft.
[1] https://en.wikipedia.org/wiki/Allegations_of_intellectual_property_infringement_by_China
[2] https://www.cbsnews.com/news/chinese-hackers-took-trillions-in-intellectual-property-from-about-30-multinational-companies/
Communist Chinese trade policy should remain under close US scrutiny and action.
I hope Trump does unto China that which Reagan/Bush41 did unto the Soviet Union.
Destroy the CCP without firing a shot.
Turn Sun Tzu on the commie Chinks.
I agree, it can be done, however many Democrats, RINOs, Neocons and Communist Chinese agents will have to go to Prison.
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