Substantial progress reported in China talks

Published: Sunday, May 11, 2025 at 8:01 pm

**US-China Trade Talks Show "Substantial Progress" in Geneva, But Details Remain Scarce**

Geneva, Switzerland – Following two days of intense negotiations, the United States and China reported "substantial progress" in their trade talks, according to U.S. officials. The discussions, held in Geneva, aimed to resolve differences stemming from President Trump's steep tariffs and China's retaliatory measures. While U.S. Treasury Secretary Scott Bessent cited significant advancements, he offered few specifics, promising more details at a later briefing. U.S. Trade Representative Jamieson Greer was more optimistic, suggesting agreements were reached quickly, implying the differences between the two economic giants might not be as vast as initially perceived.

The White House issued a statement titled "U.S. Announces China Trade Deal in Geneva," but it only reiterated the same quotes from Bessent and Greer. President Trump also expressed optimism on social media, hinting at a potential reset of the tariffs that have rattled the global economy.

China, however, adopted a more cautious stance. In an editorial, the state-run news agency Xinhua emphasized that China would reject any proposal compromising its core principles or global equity. The talks, held at the Swiss ambassador's residence, are crucial for stabilizing world markets, which have been significantly impacted by the trade war. The current tariffs, with the U.S. imposing up to 145% on Chinese goods and China retaliating with 125% levies, have disrupted trade, which topped $660 billion last year.

U.S. officials, including Commerce Secretary Howard Lutnick and White House National Economic Council Director Kevin Hassett, echoed the sentiment of a potential reset in U.S.-China trade relations. The talks mark the first face-to-face meeting to address the issues, and even a small reduction in tariffs could help restore confidence.

BNN's Perspective: While the reported progress is encouraging, the lack of concrete details is concerning. Both sides need to show a willingness to compromise to achieve a lasting resolution. The high tariffs are hurting both economies, and a de-escalation is essential. A balanced approach that addresses both U.S. concerns and China's core principles is the only path forward.

Keywords: US-China trade talks, Geneva, tariffs, trade war, Scott Bessent, Jamieson Greer, China, Donald Trump, trade deal, global economy, tariffs, trade negotiations, trade relations, economic impact, import taxes, exports, trade dispute, Xinhua, Switzerland, world markets, de-escalation

Full Coverage