“Significant progress” according to the Chinese, “substantial progress” for Americans: the two largest global economic powers, involved in a commercial confrontation since the imposition of prohibitive customs duties by Donald Trump must spread a joint press statement during the day.
The Secretary of the United States Treasury, Scott Besent, said on Sunday that the discussions had made “substantial progress”, in a brief statement to the press after the two -day meeting with the Vice Prime Chinese Minister, He Lifeng.
The latter followed the step a few hours later evoking before journalists “significant progress” after two days of discussions, which described as “Frank, in depth and substantial.”
Beijing and Washington agreed to establish “a consultation mechanism” on trade, said Lifeng. Chinese Vice Minister of Chinese Li Chenggang said that the mechanism in question would allow “regular and irregular exchanges related to commercial problems.”
The negotiations were carried out in the Chamber in the residence of the Swiss representative with the United Nations, an opulent villa located on the left bank of Lake Geneva.
“Very encouraging”
In a press release, the White House praised what he called a new “commercial agreement” with China, without giving more details.
The gin meeting was the first face of the high officials of the two countries since Donald Trump imposed a 145% surcharge in China’s assets in early April, in addition to pre -existing customs tasks.
Beijing, who promised to fight “until the end” these surcharges, taking reprisals with 125% of customs duties in American products.
This commercial war has shaken world financial markets and fed the fears of inflation in the United States and economic slowdown.
“These discussions mark an important step forward and, we hope, they have a good omen for the future,” said the general director of the World Trade Organization (WTO) Ngozi Okonjo-Iweala, after having met himself.
“He is very encouraging,” the vice president of the Institute of Policy of the Society of Asia (ASPI), Wendy Cutler reacted to the AFP, after the end of the negotiations.
“The two parties discussed for more than 15 hours. It is a very long meeting for two countries and I see it as a positive point.”
However, “the devil is in detail,” he added.
The meeting in Geneva intervened two days after Donald Trump announced a commercial agreement with the United Kingdom, the first concluded since he imposed more or less prohibitive customs tasks in all countries.
Source: BFM TV
