#NewsTrade US and China Reach Trade Deal

After two days of constructive negotiations in Geneva, the United States and China have announced a trade deal aimed at de-escalating their long-standing trade war. US Treasury Secretary Scott Bessent reported "substantial progress," stating that the agreement will help reduce the significant US trade deficit.

While specific details remain undisclosed, both sides emphasized the speed at which the agreement was reached, suggesting that the differences were perhaps not as large as initially perceived. The deal involves a 90-day suspension of further tariff increases, with both nations agreeing to roll back some existing tariffs. This development has been welcomed by global markets, with stock futures soaring on the news. Further details are expected to be released later today.