US and China agree to slash tariffs
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TAIPEI, Taiwan (AP) — China is moving to strengthen its alliances with other countries as a counterweight to President Donald Trump’s trade war, presenting a united front with Latin American leaders a day after China and the U.S. agreed to a 90-day truce in their tariffs stalemate.
"We're confident that the deal we struck with our Chinese partners will help us work toward resolving that national emergency," Jamieson Greer said.
Senior U.S. and Chinese officials met again on Sunday in Geneva, two sources familiar with the situation told Reuters, to resume weekend talks aimed at cooling the trade war that threatens to seriously damage the global economy.
President Donald Trump touted trade negotiations with China in Switzerland Saturday, noting "many things" were discussed and "much [was] agreed to."
President Trump on Saturday suggested a “total reset” in U.S.-China trade relations amid reported talks over tariffs in Switzerland between the two countries. “A very good meeting today with China, in Switzerland. Many things discussed, much agreed to.
Trade talks in Geneva between the United States and China have ended for the night but will continue on Sunday, a source familiar with the matter told Reuters.
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The way President Donald Trump sees it, beating China in a trade war should be easy. After all, the Chinese sell Americans three times as much stuff as Americans sell them.
The U.S. treasury secretary and America’s top trade negotiator began talks with high-ranking Chinese officials in Switzerland Saturday aiming to de-escalate a dispute that threatens to cut off trade between the world’s two biggest economies and damage the global economy.
A 90-day pause on punishing tariffs could restart trade between the world’s largest economies. But it is not enough to resolve uncertainty about the economy.