The chief U.S. negotiator in trade discussions with China expressed satisfaction with the progress made in resolving differences between the two major economic powers. This comes after President Donald Trump imposed significant tariffs, prompting retaliatory measures from Beijing.
U.S. Treasury Secretary Scott Bessent stated on Sunday (May 11, 2025) that there had been “considerable progress” during the weekend meetings, but did not provide specific details on the negotiations. He mentioned that more information would be shared during a briefing scheduled for Monday (May 12, 2025).
U.S. Trade Representative Jamieson Greer hinted at a potential agreement being reached without divulging any specifics. Both Greer and Bessent briefly spoke to the press after the talks concluded at the Swiss ambassador’s residence in Geneva, but did not take questions.
Also Read | U.S.-China tit-for-tat tariffs since Trump’s first term: Timeline
Greer emphasized the speed at which an agreement was reached, suggesting that the differences between the two parties may not have been as significant as previously thought. However, he emphasized that addressing the U.S. trade deficit with China remains a top priority for the Trump administration.
“We’re confident that the deal we struck with our Chinese partners will help us work towards resolving this national emergency,” Greer stated.
A statement titled “U.S. Announces China Trade Deal in Geneva” was later released by the White House, featuring the same quotes from Bessent and Greer.
Following the discussions, the Chinese delegation held a news conference describing the dialogue as “candid, in-depth, and constructive.” Chinese Vice Premier He Lifeng announced an agreement to establish a consultation mechanism for further trade and economic discussions with the U.S.
Chinese negotiators mentioned that a joint statement with the U.S. team would be released on Monday (May 12, 2025), although the exact timing was uncertain.
“No matter when the statement is released, it will be positive news for the world,” stated Li Chenggang, the Chinese ambassador to the World Trade Organization.
President Trump appeared eager to portray the talks as a success. Prior to the final day of negotiations on Sunday (May 11, 2025), he indicated on social media that “GREAT PROGRESS” was being made towards a potential “total reset” on tariffs that have impacted the global economy.
While Beijing maintained a more cautious stance on the direction of the negotiations, emphasizing its commitment to core principles and global equity, the talks were seen as crucial for stabilizing world markets affected by the U.S.-China trade dispute.
Mr. Trump’s administration has imposed tariffs on various countries, with the trade tensions with China being particularly contentious. The negotiations in Geneva marked the first face-to-face discussions between the two sides, offering a glimmer of hope for a reduction in tariffs and a restoration of confidence in the markets.
Published – May 12, 2025 02:37 am IST
