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🇺🇸🇨🇳 Treasury Secretary Bessent says the US made substantial progress in trade talks with China.
U.S. Treasury Secretary Scott Bessent’s statement about “substantial progress” in trade talks with China on May 11, 2025, in Geneva, amid ongoing tensions from Trump’s trade war, which began in his first term and has escalated, impacting global markets.
Bessent, sworn in as Treasury Secretary on January 28, 2025, brings 40 years of global investment experience, notably as a currency specialist and former Chief Investment Officer at Soros Fund Management, making his role pivotal in navigating the U.S.-China economic relationship.
The talks address a critical issue: U.S.-China trade, which surged after China joined the WTO in 2001, now faces risks of slowing global growth and inflation, with economists warning of a potential U.S. recession if tensions aren’t eased, as noted in a May 11, 2025, New York Times article.
