The United States and China have made “substantial progress” on key trade issues during two days of high-level negotiations in Geneva, American officials said on Sunday.
In a statement released by the White House, US Treasury Secretary Scott Bessent said the talks were “productive” and thanked Switzerland for hosting the meetings. “We will be giving details tomorrow,” Bessent said, noting that both he and US Trade Representative Jamieson Greer had briefed US President Donald Trump on the developments.
Greer, who led the talks with Bessent and senior Chinese officials including the vice premier and two vice ministers, described the breakthrough as “constructive.” He said the speed of the agreement indicated that the differences between the two nations “were not as large as previously thought.”
The talks come in the backdrop of a $1.2 trillion US trade deficit that led to a national emergency declaration and sweeping tariffs by President Trump. Greer said the deal is a step toward resolving that crisis.
Details of the agreement are expected to be made public on Monday.