NEW YORK: The US-China trade talks in Switzerland on Saturday went well, and Washington is optimistic about reaching an agreement with Be...
NEW YORK: The US-China trade talks in Switzerland on Saturday went well, and Washington is optimistic about reaching an agreement with Beijing, Commerce Secretary Howard Lutnick.
"They're in the room right now, so I'm just going to leave it to them to take care of that themselves. And but they felt good yesterday and that was really uplifting," he said in an interview with CNN. " I think we're optimistic that things will work out well resolved safely."
However, he declined to elaborate.
Chinese Vice Premier He Lifeng and U.S. Treasury Secretary Scott Bessant held two rounds of talks in Geneva on Saturday to resolve tensions in the wake of imposition of mutual customs duties. Negotiations between the two countries continue on Sunday.
On April 2, US President Donald Trump announced the imposition of customs duties on products from 185 countries and territories. Russia is not on the list. Universal tariffs of 10% came into force on April 5, individual tariffs on April 9.
At the same time, on April 9, the American leader suspended for 90 days the reciprocal additional import duties on some states and territories. The White House explained that the pause is related to trade negotiations, and during this period a universal tariff of 10% will be in effect.
The total US duties on goods from China stand at 145%. China responded by raising tariffs on American goods to 125% from April 12.
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