Geneva: The White House announced that the United States has reached a tentative trade agreement with China following two days of high-level negotiations in Geneva.
According to Qatar News Agency, the announcement came after US Treasury Secretary Scott Bessent informed reporters about ‘substantial progress’ in talks with Chinese Vice-Premier He Lifeng. These discussions aimed to defuse the trade war between the two largest global economies.
Bessent, who led the talks alongside US Trade Representative Jamieson Greer, described the meetings as ‘productive’ and indicated that a full briefing would occur later on Monday.
At a Geneva press conference, Greer remarked on the rapidity of the agreement, suggesting that the differences between the two nations might not have been as significant as initially believed. He emphasized the urgency of the negotiations and noted the declared national emergency, expressing confidence that the new agreement would aid in resolving ongoing trade issues.
In a post on his Truth
Social platform, US President Donald Trump described the talks as a ‘total reset. in a friendly, but constructive, manner,’ highlighting that numerous issues were discussed, and much was agreed upon.
This development follows a month-long standoff where both nations imposed tariffs exceeding 100% on each other’s goods, escalating tensions in international trade.