The White House declares 'significant progress' in trade deal with China

Although the White House claims to have made progress, no official details about the deal have been released, raising doubts about this alleged agreement.

The White House announced that negotiations between the United States and China regarding the trade deal have made "significant progress", however, no official agreement has been announced yet, causing investors to be skeptical.

According to a statement on May 11 from the White House, more details about the trade negotiations and the proposed "agreement" will be revealed on May 12.

"I am pleased to report that we have achieved significant progress between the United States and China in these very important trade negotiations," Treasury Secretary Scott Bessent said in a joint statement with U.S. Trade Representative Jamieson Greer.

"We will provide more details tomorrow, but I can say that the negotiations have been effective," Bessent continued, not mentioning the word "agreement" at all in his statement.

Greer referred to the agreement but did not provide any details about the negotiations, leaving investors skeptical about the nature of the announcement, as market participants are still monitoring the ongoing trade tensions for signs of improvement in the financial markets. #WhiteHouse