#TradeWarEases

After two days of negotiations in Geneva, the USA and China announced "significant progress" in trade relations, which could mark the end of months of tension between the two largest economies in the world.

🔹 Key points of the agreement:

The parties reached a preliminary agreement aimed at reducing tariffs and eliminating trade barriers.

Measures to reduce the US trade deficit with China, which amounted to $295.4 billion last year, were discussed.

A mechanism for ongoing dialogue on trade and economic issues was established.

💬 Reactions from the parties:

US Treasury Secretary Scott Bessent noted that the negotiations were "productive and constructive".

US Trade Representative Jamison Greer emphasized that the agreement is a step towards a "complete reboot" of relations with China.

Vice Premier of the State Council of China He Lifeng described the discussions as "frank, deep, and constructive".

📈 Market reactions:

Futures for US stocks rose, and the S&P 500 index recovered some of the losses incurred after tariffs were imposed in February.

The dollar strengthened against the yen and the Swiss franc, and the Chinese yuan also rose.