The White House has announced that talks between the United States and China concerning a trade agreement have made “substantial progress”, but no official agreement has been announced for the moment, leaving investors in doubt.
According to an announcement of May 11 of the White House, more details on the commercial talks and the proposed agreement will be revealed on May 12.
“I am pleased to announce that we have made substantial progress between the United States and China during very important commercial negotiations,” said Treasury Secretary Scott Bessent in a joint declaration with the American sales representative Jamieson Greer.
“We will give details tomorrow, but I can tell you that the talks have been productive,” said Bessent, without mentioning the word “deal” once in his declaration.
Greer mentioned the agreement but did not give any details on the talks, leaving investors in doubt about the substance of the announcement, while market players continue to monitor the current trade tensions for signs of relief for the financial markets.
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Trump’s prices cause chaos on the markets and attract widespread criticism
Although the traditional financial and digital asset markets have recovered and retraced part of the lost value following the initial price shock caused by the trade prices of US President Donald Trump, the uncertainty of investors is still looming in the asset markets.
The Trump administration has changed its tariff policies, reversing the course on commercial proposals or softening its rhetoric several times, leaving investors on board and uncertain to invest in more risky assets such as technological actions and crypto.
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In April 2024, customs and protection of American border, at the request of the Trump administration, announced that certain technological products would be exempt from prices, including smartphones, processing fleas, computers and other electronics.
However, US Secretary on Commerce Howard Lutnick fell for electronic tariff exemptions one day after the announcement.
Lutnick said the tariff exemptions would only be temporary until administration officials decide a full pricing regime which included different rate rates for the economic sectors.
The absence of a complete and decisive commercial policy has questioned the Trump administration plans, many observers saying that the commercial prices will only create more discord on the financial markets and the wider economy.
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