The US and China have finally reached some consensus on the future direction of their trade relationship amid a 16-month trade conflict that sucked the entire global economy into it. The announcement was made on Tuesday by White House adviser Jared Kushner, who also happens to be President Donald Trump’s son-in-law.
Speaking at a panel under the Future Investment Initiative conference in Saudi Arabia, Kushner said that US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin managed to reach “a fabulous deal” with China. He added:
“I think people understand the president, that he's firm, they know that he's going to make the decisions that he thinks are right, and I think ultimately that we've come to an understanding with China now on where we want to head.”
Kushner was referring to an emerging trade deal between Trump and China’s President Xi Jinping. Negotiators from both countries are working on the agreement’s text to be signed in about two weeks at an Asia-Pacific Economic Cooperation a summit in Chile.
Last Friday, the US Trade Representative’s office announced that the two countries were about to finalize some parts of a trade agreement after a recent phone call between negotiations.