US, China Trade Talks End with Agreement

The United States and China have reached an agreement to address the trade deficit after two days of talks in Geneva, Switzerland.

The discussions, which began on Thursday and involved senior officials from both countries, were described by U.S. Treasury Secretary Scott Bessent as productive, resulting in “substantial progress.”

The talks at the residence of the Swiss ambassador to the United Nations in Geneva focused on reducing the U.S. trade deficit, which was a key topic throughout the discussions, according to U.S. officials.

Both delegations reached a consensus on several matters, and further details will be announced on Monday, Bessent said.

“We made substantial progress with China in the very important trade talks,” said Bessent.

The two-day discussions followed a period of heightened trade tensions between the two economic superpowers.

Earlier on Friday, U.S. Trade Representative Jamieson Greer also confirmed that an agreement had been reached with China.

“We have a deal,” Greer said, referring to the agreement struck with Chinese partners.

Both sides reached a conclusion at a rapid pace, suggesting that there were fewer disagreements than anticipated.