Next steps in U.S.-China trade deal
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Online shoppers in the U.S. will see a price break on their purchases valued at less than $800 and shipped from China after the Trump administration reached a truce with Beijing over sky-high tariffs.
Treasury Secretary Scott Bessent expressed optimism about continuing trade negotiations with Chinese officials after meeting in Geneva, with plans to meet again in the next few weeks to hash out a
Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer told reporters that more details would be provided on Monday.
The de-escalation provides both sides with breathing space to find a way to preserve trading ties that were threatening to grind to a halt.
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.
Officials wrapped up two days of bargaining in Switzerland and touted "substantial progress." More details are expected on Monday.
The U.S.-China tariff deal sent the tech-heavy Nasdaq soaring, entering a bull market, and economists are optimistic that the U.S. may dodge a recession.
A deal with China is a relief to investors who worried tariffs as high as 145% would severely limit trade, raise prices and hurt the U.S. economy.