Consensus Reached in China-U.S. Trade Negotiations, Specific Details Expected to Be Announced on May 12

Chinese Delegation’s Statements

The Chinese delegation stated during an interview that both sides engaged in in-depth discussions regarding economic and trade issues of mutual concern, achieving substantial progress and reaching important consensus. Both parties unanimously agreed to establish a Sino-U.S. economic and trade consultation mechanism, clarifying the lead representatives from both sides to further discuss their respective economic and trade concerns.

White House Statement

At the same time, the White House issued a statement early this morning, with U.S. Treasury Secretary Scott Bessent claiming that the United States and China made substantial progress in this important trade negotiation, and will announce a joint statement and specific details of the talks on May 12, U.S. time. Meanwhile, U.S. Trade Representative Jamieson Greer added:

“As the Secretary of the Treasury mentioned, these past two days have been very constructive. The speed at which we reached agreements is noteworthy, reflecting that the differences between both sides may not be as vast as previously imagined. Nonetheless, a substantial groundwork has been laid during these discussions. Let us remember our original intent in coming here — the United States faces a trade deficit of up to $1.2 trillion, prompting the President to declare a national emergency and implement tariff measures. We are confident that the agreements reached with the Chinese side will help us address this national emergency.”

Trump’s Earlier Remarks

Earlier, Trump had already released news indicating that the negotiations between China and the United States were proceeding smoothly and that consensus had been reached, which subsequently drove Bitcoin to break through $104,000.