President Donald Trump said Monday that he could speak with Chinese President Xi Jinping at the end of the week after officials from both countries reached a key agreement in trade negotiations over the weekend.
Trump forecasted a potential phone call with his Chinese counterpart while speaking to the press during an executive order signing, before he jetted off to the Middle East for the week.
“They were very happy to be able to do something with us. And the relationship is very, very good. I’ll speak to President Xi maybe at the end of the week,” Trump said.
Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer spent the weekend in Geneva, Switzerland, with Chinese officials, with whom they engaged in major trade negotiations.
The countries agreed to a 90-day reduction in tariffs by 115 percent, while a 10 percent tariff remains in place.
“It doesn’t include tariffs on cars, steel, aluminum, things such as that, or tariffs that may be imposed on pharmaceuticals,” Trump noted on Monday.
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The countries will work out “larger structural issues” over the 90-day reduction in tariffs.
Trump stressed that discussions “in Geneva were very friendly.”
Greer on Sunday underscored the speed at which officials were able to strike a deal.
“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,” Greer said.
“We’re confident that the deal we struck with our Chinese partners will help us work toward resolving that national emergency,” he continued.
This marks the second major development in trade negotiations since Trump instituted his Liberty Day tariffs on April 2. Last week, Trump and United Kingdom Prime Minister Keir Starmer announced a trade deal between the U.S. and the U.K.
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