US, China Make Substantial Progress in Trade Talks in Geneva

U.S. Treasury Secretary Scott Bessent reported substantial progress in the recent U.S.-China trade talks held in Geneva, involving high-level officials including Chinese Vice Premier He Lifeng and U.S. Trade Representative Jamieson Greer. Both sides described the two-day negotiations as very constructive, noting that differences were not as significant as previously thought, which contributed to the rapid progress. Bessent and Greer emphasized that the groundwork laid during these talks could help resolve ongoing trade tensions and national security concerns, with Bessent confirming that President Trump is fully informed. The Swiss government provided the venue for the talks, which was credited for enhancing productivity. A full briefing with more detailed information is scheduled for the following day, drawing global attention due to the potential impact on tariffs, economic policy, and market sentiment. These developments come amid heightened tensions following substantial tariff increases by the U.S. aimed at addressing trade imbalances and other issues with China.