The United States and China have reached a preliminary trade agreement, according to top Trump administration officials who made the announcement on Sunday, signaling a potential de-escalation in the ongoing trade conflict between the two economic giants.
Although the full terms of the agreement, which was reached during high-level discussions held in Switzerland over the weekend, have not yet been disclosed, officials indicated that a more detailed statement would be issued 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.”
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