The United States and China have concluded two days of high-level trade negotiations in Geneva, achieving "significant progress" in resolving tense trade issues. The talks, which involved U.S. Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng, ended with an agreement to establish a new mechanism for economic and trade dialogue. Both sides called the discussions "open, thorough, and constructive," emphasizing the speed of reaching a consensus.
A joint statement with details of the agreement is expected to be released soon. The negotiations were a response to the escalation of the trade war, triggered by 145% tariffs imposed by the U.S. on Chinese goods and 125% tariffs from China in retaliation. Analysts note that the agreement could ease tensions in global markets, although significant tariff reductions are unlikely without further consultations. This move is seen as a first step toward de-escalation that could contribute to the stability of the global economy.
