The White House announced a trade deal with China that lacks specifics, leaving key questions unanswered, including tariffs. U.S. Trade Representative Jamieson Greer expressed optimism about the agreement's potential to resolve a national emergency, while Treasury Secretary Scott Bessent noted "substantial progress" but refrained from declaring a complete deal. The administration sources suggested a significant step has been taken, but the existing 145% tariffs and trade embargo remain unchanged as of now. A full briefing is expected the following day to provide further insights.
We're confident that the deal we struck with our Chinese partners will help us to work toward resolving that national emergency.
Substantial progress had been made with the Chinese but stopped short of touting a full deal.
As of now, the trade embargo is still in effect. The White House has not yet announced that the 145% tariff will be altered.
Sources in the administration indicated this appears to be a significant step toward that possible action.
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