Latest news with #JamesonGreer
The Independent
06-06-2025
- Business
- The Independent
Trump sends Bessent and Lutnick to haggle with Chinese on tariff war after Xi chat
Three members of Donald Trump's cabinet will meet with Chinese officials in London on Monday in an effort to deescalate or resolve the unprovoked trade war which Trump started with Beijing two months ago. In a post on Truth Social, Trump said he was 'pleased to announce' that Treasury Secretary Scott Bessent and Commerce Secretary Lutnick would travel to London along with U.S. Trade Representative Jameson Greer for a sit-down with 'Representatives of China, with reference to the Trade Deal.' He added: 'The meeting should go very well. Thank you for your attention to this matter!'
Argaam
12-05-2025
- Business
- Argaam
US, China agree on 90-day tariff cuts
The United States and China have agreed to temporarily reduce tariffs on each other's products to ease trade tensions and allow for a 90-day window to resolve their disputes. According to a joint statement issued in Geneva, US will reduce tariffs on Chinese goods from 145% to 30% for 90 days, while China will lower tariffs on US goods from 125% to 10% over the same period. US Treasury Secretary Scott Bessent stated during a press conference, as reported by Bloomberg: 'We have reached an agreement to suspend tariffs for 90 days and significantly reduce tariff levels,' describing the discussions with China as productive and emphasizing that both sides demonstrated great mutual respect. Bessent added that US would continue moving towards balanced trade with China, noting, 'We have a plan, a working mechanism, and a framework for ongoing dialogue.' Meanwhile, Trade Representative Jameson Greer expressed appreciation to Geneva officials for hosting the talks between Washington and Beijing. He added that the discussions were marked by mutual understanding and respect. This move represents a significant step in deescalating trade tensions that have fueled uncertainty and caused disruptions in global markets since early April.
See - Sada Elbalad
11-05-2025
- Business
- See - Sada Elbalad
US, China Talks Make "Substantial Progress" toward Defusing Trade War
Taarek Refaat US Treasury Secretary Scott Besant said on Sunday that talks in Geneva between the US and Chinese Vice Premier He Lifeng had made "substantial progress" toward defusing the trade war between the world's two largest economies. Besant added that he would provide more details on Monday, while US Trade Representative Jameson Greer, who also attended the talks, said that the differences between the two sides were not as significant as previously thought. "I am pleased to report that we have made substantive progress between the United States and China in these very important trade talks," Besant told reporters. He added that he had informed President Donald Trump of the progress made in the talks and that a full briefing on the details would be issued on Monday. The talks continued for a second day on Sunday, as the two sides discussed how to de-escalate the trade war, which threatens to significantly damage the global economy. US Trade Representative Jameson Greer said, "The talks were very constructive. It is important to recognize how quickly we reached an agreement, which reflects that the differences may not have been as significant as we had thought." He added, "However, we have made great efforts over these two days. Just remember the reason we are here in the first place: the United States has a massive trade deficit of $1.2 trillion. That is why the President declared a national emergency and imposed tariffs. We are confident that the agreement we have reached with our Chinese partners will help us work toward resolving this national emergency." On his part, the Vice Chairman of the Chinese International Council confirmed that the trade talks with the United States were constructive and had made progress. He said, "China's position on the trade war is clear and consistent." He noted that an agreement was reached to establish a consultation mechanism on trade and economic issues. He stressed that "we will work to enhance certainty and stability in the global economy." In an effort to defuse the trade war that threatens to severely damage the global economy, senior officials from the United States and China met again in Geneva on Sunday to resume talks that began on Saturday. Senior U.S. and Chinese officials concluded the first day of talks in Geneva aimed at defusing a trade war that threatens to deal a severe blow to the global economy. Chinese Vice Premier He Lifeng held a nearly eight-hour meeting with US Treasury Secretary Scott Besant and US Trade Representative Jameson Greer, the first face-to-face meeting between the two sides since the world's two largest economies imposed tariffs exceeding 100% on each other's imports, according to Reuters. Besant and Greer met with He in Geneva after weeks of escalating tensions following President Trump's February tariffs, which Beijing responded with retaliatory measures, bringing annual bilateral trade of nearly $600 billion to a near standstill. This trade standoff, along with Trump's decision last month to impose tariffs on dozens of other countries, has disrupted supply chains, rattled financial markets, and increased fears of a severe global economic recession. Beijing, for its part, rejects what it sees as foreign interference and demands that Washington lower tariffs, clarify which goods it wants China to purchase in greater quantities, and be treated as an equal on the international stage. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Egypt confirms denial of airspace access to US B-52 bombers Lifestyle Pistachio and Raspberry Cheesecake Domes Recipe News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Arts & Culture Nicole Kidman and Keith Urban's $4.7M LA Home Burglarized Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War
Saba Yemen
11-05-2025
- Business
- Saba Yemen
US-China Talks to Defuse Trade Dispute
Geneva - Saba: Senior US and Chinese officials have begun formal talks in Switzerland in an attempt to defuse the escalating trade dispute between the world's two largest economies, which threatens to undermine global trade and harm the international economy. China's Xinhua News Agency reported that "US Treasury Secretary Scott Besant and US Trade Representative Jameson Greer held meetings in Geneva with a Chinese delegation headed by Vice Premier He Lifeng." Whatsapp Telegram Email Print
