The United States and China have made substantial progress in trade negotiations in Geneva, but have yet to announce a formal agreement, keeping investors cautious. Treasury Secretary Scott Bessenet and Trade Representative Jamison Greer confirmed that the dialogue is constructive and promised to announce more details on May 12. However, under President Trump's leadership, the United States lacks a clear stance on tariff policy, continuing to disrupt market sentiment, especially after multiple adjustments to tariffs on electronic products.