The U.S. and China have reached a consensus on trade following high-level discussions in London, as reported by representatives from both nations. U.S. Commerce Secretary Howard Lutnick announced that a framework has been established to implement the Geneva consensus, which aligns with discussions between the two presidents. This sentiment was also echoed by Chinese representatives during the talks.
Lutnick indicated that he and U.S. Trade Representative Jamieson Greer would return to Washington, D.C., to ensure that President Trump approves the proposed framework. He noted that, pending approval from President Xi, the framework would then be implemented. This collaborative effort marks a significant step towards enhancing trade relations between the two countries.
Additionally, U.S. Treasury Secretary Scott Bessent mentioned he would be returning to the U.S. to testify before Congress on Wednesday, suggesting that the trade discussions may have broader implications for U.S. economic policy and legislative considerations. The high-level talks and the resultant agreement reflect a constructive approach to managing trade tensions and fostering cooperation between the two largest economies in the world.
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