Swiss Geneva Talks Conclude

Both Sides to "Reveal Details on the 12th"

U.S. Treasury Secretary Scott نشست Benant said on the 11th (local time) that the first official trade talks with China had seen "good progress."

"We'll have more to say on Monday," Benant added.

Benant, who served as the chief representative for the U.S. delegation, made the remarks after the two-day talks in Geneva, Switzerland, concluded on this day. The talks were part of broader efforts by both countries to stabilize their relationship, which has soured over the past few years.

The two sides also agreed to keep in touch at the technical level on specific issues following the meetings, a U.S. Treasury spokesperson said later on Thursday.

Benant led the negotiations with a Chinese delegation headed by Vice Premier He Lifeng, a top economic official, as part of the Biden administration’s broader effort to manage the U.S.-China relationship, which has become increasingly tense in recent months.

The talks, which began on Wednesday, focused on a range of issues, including macroeconomic policy, trade and investment, climate change, and nuclear weapons.

Benant said the talks were "productive" and that the two sides were able to make progress on a number of issues.

"We had a very constructive dialogue over the past two days," Jamison Greer, the U.S. Trade Representative's (USTR) representative who participated in the negotiations with Benant, told reporters.

"The differences in our positions may not be as significant as some had thought," said Greer, adding that the U.S. would continue to engage with China in order to try to narrow those differences.

Benant and Greer spoke to reporters after the talks concluded at a hotel in Geneva, where they met with reporters in a large ballroom.

The two sides also agreed to establish a trade and economic consultation mechanism and that follow-up discussions will continue, said the chief representative from China.

"We have reached substantial consensus," said the Chinese official, whose surname is He and who is also a member of the Politburo, the top decision-making body of the Communist Party.

"Both sides agreed to build on the consensus reached during President Biden and Chairman Xi's meeting at the G20 to cooperate in managing macroeconomic stability and create a favorable external environment for economic development," he added.

He said China had always pursued "a win-win philosophy" in its trade negotiations.

"China is willing to work with the U.S. to properly manage differences, expand areas of cooperation, and jointly promote the healthy and stable development of China-U.S. relations," he said.