Trump said there was “great progress” with China after the 1st day negotiations
President Donald Trump Said on Saturday (10) “Great progress” In trade discussions between USA And and ChinaBetween the possible defrost in the trade war Your heavy tariffs .
“A very good meeting with China in Switzerland. A lot of things have been discussed. Most people have settled. The entire reconstruction has been friendly but structurally traded. For China and the US, China is launching for American businesses.
This was the first comment made by Trump after the day of Geneva negotiations among US officials, including Treasury Secretary Scott Besant and US Commerce Representative Jamison Greer and Chinese officials.
Speaking to CNN, the source of information about the meetings said Sunday (11) will continue.
Earlier this week, Bessent urged the people not to expect a big business deal at the meetings, but it was an important step in the negotiations.
State Broadcaster CCTV said that the Deputy Prime Minister was leading the Lifting China towards negotiations Short report.
Chinese state news agency Xinhua called Switzerland the “important step to solve the problem.”
“However, the strategic patience and will of the perfect solution, as well as the fair support from the international society, is required,” said Xinhua.
The US has imposed at least 145% of Chinese imports, and China has responded to a 125% rate on most US imports. As a result, trade between both sides Dramatically drops, According to logistics experts.
Reducing this rate may not be enough to significantly change commercial levels. Economists say it is a 50% decisive limit for returning a relatively normal business relationship between the two countries.
On Friday, Besant and Greer were left to Switzerland, Trump increased the opportunity to cut rates on China’s products to 80%, demanding that China “open its market to the US.”
“The 80% rate on China looks correct! This decision comes from Scott B” Trump said Published on social truth .
The combination of small products reaching the US and the increase in import costs have already begun to raise prices for Americans.
Goldman Sachs analysts said on Thursday that the main measure of inflation was up to 4% by the end of this year due to the Trump trade war.
E. Ships carry goods below 145% of rates Coming to Porto now, the trade agreement does not immediately cut prices.
The saying that Americans rely on a wide range of Chinese products are to underestimate how much they attend everyday life.
The US will arrive in an impressive number of impressions, clothing, accessories, microchips, baby goods, toys, sports equipment, office machine pieces and more China.
But now these imports are declining. According to the National Retail Federation, imports to the United States in the second half of 2025 are expected to decline at least 20% compared to the previous year.
China’s decline is more evident. Investment Bank JP Morgan drops from 75% to 80% of imports.
The trade war has already influenced the US economy. The Gross Domestic Product (GDP) From the country, the widespread measurement of the American economy shows the first quarterly contraction from the beginning of 2022, running to bring goods before imposing punitive tariffs.
The impact of too many tariffs in China is also severe, whose US exports fell greatly in April.
Chinese goods added to the US Billion is 33 billion Last month – 21% impressive fall compared to US . 41.8 billion Recorded in April 2024 as per CNN counting.
Most American tariffs have also strongly influenced the Chinese manufacturing sector. Chinese industrial activities Has been contracted at its rapid pace In April 16 months, Beijing’s efforts to implement new financial stimuli will increase the need for the need.
The news that Bessent and Greer will meet with their Chinese opponents in Geneva have raised distant hopes between the two countries.
The US and China are the largest and second largest economy in the world, respectively, than the next 20 economies, According to the World Bank data.
Trump was speaking to a conservative radio host on Wednesday Raises the case Hong Kong Media businessman, Jimmy Lie, “As part of the discussion.”
The former fighting editor Lai, now the Apple Daily tabloid closed Beijing shoe, is in the midst of a national security trial, which can condemn him to life imprisonment.
CCTV did not say whether he participated in the LAI discussions.
The professor said there was a structural problem in the global economy
