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Tipsheet

So Much Winning: We Have a New Trade Deal With China

AP Photo/Evan Vucci, File

The Left was hoping for the talks to collapse, and the media was hoping for President Trump and his team to fail. They didn’t. The trade talks between US and Chinese representatives in Switzerland were productive on day one and concluded today with a new agreement. More details will be released tomorrow, but things looked like they went as well as possible. 

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President Trump was hammered by the elites, the media, and the Democrats for using tariffs to renegotiate trade with other nations. This has led to a total reset between Washington and Beijing. The Trump administration inked a new deal with the UK last week (via NY Post):

The US and China have agreed on a deal to help resolve the trade war raging between the world’s two largest economies, top Trump administration officials announced Sunday. 

Details of the deal, struck during negotiations in Switzerland over the weekend, were not revealed, but officials teased that more information will be shared on Monday. 

“The U.S. has a massive $1.2 trillion trade deficit, so the President declared a national emergency,” US Trade Representative Jamieson Greer said Sunday. “We’re confident that the deal we struck with our Chinese partners will help us work toward resolving that national emergency.” 

President Trump has imposed tariffs of up to 145% on goods from China, with China slapping retaliatory tariffs on American exports.

It's amazing what happens when you just do things.

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DONALD TRUMP

From Treasury Secretary Scott Bessent:  

I’m happy to report that we made substantial progress between the United States and China in the very important trade talks. First, I want to thank our Swiss host. The Swiss government has been very kind in providing us this wonderful venue, and I think that led to a great deal of productivity we’ve seen. We will be giving details tomorrow, but I can tell you that the talks were productive. We had the vice premier, two vice ministers, who were integrally involved, Ambassador Jamieson, and myself. And I spoke to President Trump, as did Ambassador Jamieson, last night, and he is fully informed of what is going on. So, there will be a complete briefing tomorrow morning.” 

US Trade Representative Ambassador Jameison Greer: 

 This was, as the Secretary pointed out, a very constructive two days. 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. That being said, there was a lot of groundwork that went into these two days. Just remember why we’re here in the first place — the United States has a massive $1.2 trillion trade deficit, so the President declared a national emergency and imposed tariffs, and we’re confident that the deal we struck with our Chinese partners will help us to work toward resolving that national emergency.”

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