The White House announced a trade deal with China on Sunday over meetings in Switzerland. Details were not announced yet but stock market futures jumped 400 points in anticipation of good news.
U.S. Trade Representative Ambassador Jamieson Greer said this in a statement about trade negotiations: “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. That being said, there was a lot of groundwork that went into these two days. Just remember why we’re here in the first place — the United States has a massive $1.2 trillion trade deficit, so the President declared a national emergency and imposed tariffs, and we’re confident that the deal we struck with our Chinese partners will help us to work toward resolving that national emergency.”
Presumably, the deal will pertain to favorable tariffs between the U.S. and China but we await confirmation.
