White House claims ‘substantial progress’ on China trade deal

Although the White House claimed progress was made, no official details on a deal were announced, casting doubts on the purported agreement.

The White House announced that talks between the United States and China regarding a trade deal have made “substantial progress,” yet no official deal has been announced at this time, leaving investors in doubt.

According to a May 11 announcement from the White House, more details on the trade talks and the proposed “agreement” will be revealed on May 12.

“I am happy to report that we made substantial progress between the United States and China in the very important trade talks,” Treasury Secretary Scott Bessent said in a joint statement with US trade representative Jamieson Greer.

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