China-U.S. Agree on Framework to Implement Geneva Trade Consensus After London Talks

During high-level talks in London, the U.S. and China reached a consensus on a framework to implement the Geneva trade agreement. U.S. Commerce Secretary Howard Lutnick confirmed the development, stating the need for approval from Presidents Trump and Xi. Meanwhile, U.S. Treasury Secretary Scott Bessent plans to testify before Congress upcoming week, continuing the dialogue on U.S. trade policies. This is a developing story, and updates are forthcoming.

In an important development in U.S.-China relations, both nations have come to an agreement on a framework intended to implement the Geneva trade consensus. This news came after the second day of high-level discussions held in London. U.S. Commerce Secretary Howard Lutnick confirmed the breakthrough stating, “We have reached a framework to implement the Geneva consensus and the call between the two presidents.” It appears that both sides are optimistic about progressing on trade matters.

Key officials from each country seem aligned. U.S. Trade Representative Jamieson Greer, alongside Lutnick, will be returning to Washington, D.C. to secure President Trump’s approval on this framework. Lutnick confidently stated that if Chinese President Xi approves, they would proceed to implement the agreement. The commitment from U.S. representatives indicates a push for tangible results in trade relations.

In related news, U.S. Treasury Secretary Scott Bessent mentioned his plans to travel back to the U.S. to testify before Congress just days after these significant trade discussions. His role will undoubtedly add another layer to the dialogue surrounding U.S. trade policies moving forward.

As the situation unfolds, this agreement marks a notable step for both countries and their respective economies. While both sides express a desire for cooperation, the real test now lies in how each leader responds to the proposed framework.

The recent discussions between U.S. and Chinese officials in London have led to a significant framework aimed at implementing the Geneva trade consensus. With the cooperation of key representatives, both nations are poised to potentially move forward, pending approval from their respective presidents. As developments continue, the focus will be on how this agreement translates into actionable trade strategies and policies. The trade landscape may be reshaped depending on the response from both President Trump and President Xi.

Original Source: www.cnbc.com

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