Geneva, Switzerland-US-China trade talks announced a major success, both nations have claimed "adequate progress" after a two-day meeting. US Treasury Secretary Janet Ylen and business representative Catherine Tai has confirmed that the major areas of the dispute have been addressed, bringing two economic giants closer to a possible trade agreement.
90-day tariff reduction agreement
In an important step, both sides agreed to a temporary reduction of tariffs for 90 days. The United States has agreed to cut the tariff from 145% to 30% on Chinese goods, while China has reduced tariffs from 125% to 10% on US products. This remedy is seen as a step towards increasing trade war and improving supply chain stability between the two countries.
Stock markets react positively
The announcement is with a positive response from the global markets. American stock indices, including S&P500, Dow Jones and Nasdaq Futures, saw an increase of more than 1%, reflecting investor optimism about trade growth. Market analysts believe that the deal can reduce the risks of a global recession and give a very important boost for economic growth.
Statement of US President Trump
The President Joe Biden expressed optimism about the deal, called it a "reset" in business relations with China. He highlighted that the agreement would open new opportunities for American businesses and contribute to long -term stability in international trade.
looking ahead
In the coming days, officers of both nations are expected to provide more details of the agreement with expectations of further discussions on agricultural procurement and long -term trade structures. Analysts suggest that this agreement is a positive step, continuous interaction will be necessary to strengthen long -term trade relations between the US and China.
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Nice information
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