WHITE HOUSE - WASHINGTON
FOR IMMEDIATE RELEASE 11/05/25
Minister Scott Bessent: “I am pleased to report that we have made significant progress between the United States and China in very important trade negotiations. First of all, I want to thank our Swiss hosts, who have been very kind in providing us with this wonderful venue, and I think that has led to the great efficiency we have seen. We will provide details tomorrow, but I can say that the negotiations have been very effective. We have the participation of the Deputy Prime Minister, two ministers who have been actively involved, Ambassador Jamieson, and myself. And I spoke with President Trump, as well as Ambassador Jamieson, last night, and he has been fully briefed on what is happening. So, there will be a full press conference tomorrow morning.”
U.S. Ambassador Jamieson Greer: “These are, as the Minister pointed out, two very constructive days. It is important to understand that we have been able to reach an agreement quickly, which reflects that perhaps the differences are not as great as might have been thought. However, a lot of preparatory work has been done in these two days. Remember the reason we are here in the first place – the U.S. has a massive trade deficit of $1.2 trillion, so the President declared a national emergency and imposed tariffs, and we believe that the agreement we have reached with our Chinese partners will help us move towards addressing that national emergency.”