Temu, China and SHEIN
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China, White House and trade talks
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Representatives from China and the U.S. met for a second day Sunday to discuss trade policies amid fallout from President Donald Trump’s tariff plan.
Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer told reporters that more details would be provided on Monday.
The Geneva talks come after President Trump slapped 145% tariffs on U.S. imports from China and Beijing retaliated with a 125% levy on U.S. goods.
It’s important to understand how quickly we were able to come to an agreement, which reflects that perhaps the differences were not as large as maybe thought.”
The White House said it was announcing a trade deal without providing any details. Representatives from the U.S. and China had been meeting in Switzerland.
The U.S. agreed to cut tariffs on Chinese goods from 145% to 30%, while China committed to reduce tariffs on U.S. products from 125% to 10%. The lowered tariffs will remain in place for 90 days while the two sides negotiate a wider trade deal.
Officials wrapped up two days of bargaining in Switzerland and touted "substantial progress." More details are expected on Monday.
The US has confirmed it has struck a trade deal with China following crunch talks that took place in Switzerland over the weekend. In a White House press release, Treasury Secretary said the two sides had made "substantial progress" in the "very important trade talks. Full details or the US-China trade deal are expected to be revealed on Monday.