Regarding the joint statement, Trump said it 'will be the most important and influential content he has ever released'; 'the talks were in-depth, constructive, substantial progress was made, and important consensus was reached'; the White House website was more direct, explicitly stating 'The United States announces a trade agreement with China in Geneva', but the White House article only mentioned the speeches of Bessen and Greer in Switzerland, with no other content. It all leaves one in suspense, and it is estimated that the joint statement will first establish a friendly negotiation framework, exceeding market expectations. Some tariffs will be exempted, some will be reduced, and the rest will be left for medium to long-term mechanisms to discuss, which is a good explanation for both their superiors and the public, a typical model of positive phased statements. As mentioned yesterday, reaching a comprehensive agreement is estimated to be very difficult, but it can be downgraded, and there can be a framework with follow-ups (a normalization communication mechanism). Establishing a communication mechanism should meet expectations, so it depends on how the negotiation framework should exceed expectations (then it depends on how much it can exceed expectations in the statement), at least it can be confirmed that the worst-case scenario of 'neither consensus nor follow-up' has been left behind.