A TRADE deal between America and China has been agreed, the White House has announced.
US Treasury Secretary Scott Bessent said “substantial progress” had been made with his Beijing counterpart during talks in Geneva.
He said details would be revealed tomorrow, but the breakthrough will raise hopes of ending the tariff war between the world’s two biggest economies.
Donald Trump has hit China with 145 per cent tariffs, leading them to retaliate with import duties of 125 per cent on most US exports.
Mr Bessent said: “I’m happy to report that we made substantial progress between the United States and China.
“We will be giving details tomorrow, but I can tell you the talks were productive.”
Trillions of dollars were wiped off US stock markets last month after the White House confirmed tariffs on China would rocket to 145 per cent.
Investors fled for the hills — fearing further financial turbulence would result from the near-daily ratcheting up of the levies between the two economic superpowers.
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