Trump administration reveals bombshell trade deal with China weeks after tariffs ripped apart world economy
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President Donald Trump’s administration struck a trade deal with China.
The White House announced ‘productive talks’ on Sunday and previewed a briefing on Monday to go over details of the agreement.
It comes just weeks after Trump imposed worldwide tariffs that sent global markets into a tailspin.
Trump placed a whopping 145 percent tariff on most Chinese goods – the highest tariff by far of any country, making it nearly impossible for China to trade with the U.S.
‘I’m happy to report that we made substantial progress between the United States and China in the very important trade talks,’ Treasury Secretary Scott Bessent said in a statement on the agreement.
Switzerland hosted the trade agreement talks between the U.S. and China.
This story is breaking and will be updated.
Treasury Secretary Scott Bessent speaks to press on Sunday, May 11 during the second day of bilateral talks between the U.S. and China in Switzerland
