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US, China Made Substantial Progress in Trade Talks, Bessent Says

  • Senior U.S. and Chinese officials met in Geneva for two days of high-level discussions on May 11-12, 2025, aiming to reduce escalating tariff conflicts between the two countries.
  • These negotiations followed steep tariffs imposed by President Trump, reaching 145% on Chinese goods and 125% retaliatory tariffs by China, amid a prolonged trade dispute.
  • Both sides described the discussions as candid, constructive, and productive, agreeing to establish a consultation mechanism for further economic and trade dialogue.
  • U.S. officials involved in the trade discussions reported significant advancements, with one highlighting that the gaps between the two sides were likely smaller than initially expected.
  • The talks suggested potential easing of the trade war, which may help stabilize world markets and address national security concerns, though no immediate tariff cuts or concrete details were announced.
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US, China agree to slash tariffs as Trump says will speak to Xi

The United States and China announced Monday an agreement to drastically reduce tit-for-tat tariffs for 90 days, an outcome President Donald Trump dubbed a "total reset" as he said talks with counterpart Xi Jinping could soon follow.

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Forbes broke the news in United States on Sunday, May 11, 2025.
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