BlockBeats News: On May 12th, the White House announced in a statement that the United States had reached a trade agreement with China in Geneva. US Treasury Secretary Scott Bessent and US Trade Representative Ambassador Jamieson stated that the negotiations were held in Geneva, Switzerland and lasted for two days, achieving "substantial progress". The negotiation was jointly participated by Besent, Ambassador Jamison, Vice Premier of China, and two Deputy Ministers.
The United States is facing a trade deficit of $1.2 trillion, and President Trump has declared a national emergency and implemented tariffs. The purpose of the negotiations is to resolve this' national emergency '.
Both parties are satisfied with the outcome of the negotiations and believe that the differences are not as significant as expected, and the agreement was reached quickly. The specific details will be announced the next day (May 12th), and President Trump has been informed of the situation and will receive a comprehensive briefing the next morning. US officials are optimistic about the agreement, believing that it will help solve the trade deficit problem.
