The U.S. and China ended high-stakes trade talks on a positive note on Sunday, with U.S. officials touting a “deal” to reduce the U.S. trade deficit, while Chinese officials said the sides had reached “important consensus” and agreed to launch another new economic dialogue forum.
Neither side released details after they wrapped up two days of talks in Switzerland.
U.S. Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer described “substantial progress” and also said details would be announced on Monday.
In separate briefings with reporters, neither side mentioned any agreement to cut U.S. tariffs of 145% on Chinese goods and China’s 125% tariffs on U.S. goods.
Greer and Bessent took no questions from reporters. The U.S. Treasury chief has said previously that these duties amount to a trade embargo between the world’s two largest economies and need to be “de-escalated.”
Chinese Vice Premier He Lifeng said a joint statement would be released in Geneva on Monday. Vice Commerce Minister Li Chenggang said it would contain “good news for the world.”
Please see full here:
https://www.reuters.com/world/china/us-china-talks-defuse-trade-row-resume-geneva-2025-05-11/
https://www.cnbc.com/2025/05/11/us-china-trade-tariffs-talks.html
