The White House has announced a breakthrough in trade negotiations with China following two days of talks in Switzerland. Yesterday, Treasury Secretary Scott Bessent said the two sides had made ‘substantial progress’. This morning, he said that the US would lower tariffs on China to 25 per cent from 145 per cent for 90 days, and that China would lower tariffs on the US to 10 per cent from 125 per cent for 90 days.
Trump’s trade chief Jamieson Greer (who gave his first European interview to Unherd last week) said yesterday it had been a ‘very constructive two days’. He added: ‘It’s important to understand how quickly we were able to come to agreement, which reflects that perhaps the differences were not so large as maybe thought.
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