China, White House and his tariff
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The White House announced a "China trade deal" in a May 11 statement, but did not disclose details. The apparent agreement came together sooner than most observers expected after Trump's 145% tariffs on Chinese imports virtually halted $600 billion in annual trade between the world's two largest economies.
The White House has said its agreements with the U.K. and China are starting points, but so far the Trump administration has given up more than it has gained.
It’s important to understand how quickly we were able to come to an agreement, which reflects that perhaps the differences were not as large as maybe thought.”
The US has confirmed it has struck a trade deal with China following crunch talks that took place in Switzerland over the weekend. In a White House press release, Treasury Secretary said the two sides had made "substantial progress" in the "very important trade talks. Full details or the US-China trade deal are expected to be revealed on Monday.