#TradeWarEases

The United States and China have taken significant steps toward de-escalating their trade conflict following high-level talks in Geneva, marking the first face-to-face negotiations since fresh tariffs were imposed. Over two days of discussions, U.S. Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer met with Chinese Vice-Premier He Lifeng to outline a “total reset” of their trade relationship, with both sides hailing “substantial progress” despite withholding full details of any commitments . While the agreement stops short of lowering the steepest levies immediately, it establishes a framework for reducing tariffs, expanding agricultural purchases, and aligning standards—steps seen as crucial to relieving the nearly $300 billion U.S. trade deficit and calming market jitters .