US EditionUS, China Made Substantial Progress in Trade Talks, Bessent Says
- U.S. And Chinese officials concluded two days of trade talks in Switzerland in May 2025, reporting substantial progress toward resolving their economic disputes.
- The negotiations followed President Trump’s imposition of steep tariffs on Chinese goods, with Beijing retaliating, escalating a trade conflict that disrupted $660 billion in annual trade.
- Top U.S. Officials involved in the trade negotiations expressed satisfaction with the progress made and confirmed plans to create a new channel for ongoing trade and economic discussions.
- The talks occurred amid tariffs as high as 145% on Chinese imports and 125% on U.S. Goods, with Bessent noting the need to "de-escalate" duties that effectively block trade between the two largest economies.
- While details remain limited, the dialogue suggests potential stabilization of global markets and a possible reboot of U.S.-China trade relations despite prospects for a major breakthrough remaining slight.
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China, U.S. agree to set up consultation mechanism amid tariff row
China has agreed with the United States to establish an economic and trade consultation mechanism to discuss issues of mutual concern following ministerial-level talks in Geneva over the weekend, official media reported Monday. Beijing and Washington will release a joint statement on Monday summarizing the meeting, Chinese Vice Premier He Lifeng was quoted as saying by the Chinese media after holding two days of talks through Sunday with U.S. Tr…
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Leaning Left55Leaning Right58Center89Last UpdatedBias Distribution44% Center
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