WASHINGTON – During a news conference Monday to announce his executive order to lower the price of pharmaceuticals, President Donald Trump said trade negotiations with China were going well.
After talks on Saturday and Sunday, the United States and China agreed to a 90-day truce on tariffs as negotiations continue in Switzerland.
“It will be great for everybody,” Trump said.
The U.S. delegation temporarily agreed to lower tariffs from 145% to 30% and China agreed to lower a retaliatory 125% to 10%.
“We are not looking to hurt China,” Trump said. “China was being hurt very badly. They were closing up factories. They were having a lot of unrest.”
Trump said the Chinese delegation was “very happy” to be able to negotiate with the U.S.
During a news conference in Geneva, U.S. Trade Representative Jamieson Greer and U.S. Treasury Secretary Scott Bessent announced the end of a de facto trade embargo.
“Neither side wants a decoupling,” Bessent said.
Trump suggested he will be talking to Chinese President Xi Jinping after the negotiations.
“I think it’s going to be fantastic for China; I think it’s going to be fantastic for us,” Trump said.
On Tuesday, the president is set to travel to Saudi Arabia, Qatar, and the United Arab Emirates.
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