US and China Achieve Trade 'Progress' in Geneva Talks, May 2025

The United States and China concluded trade talks in Geneva, Switzerland, with both sides expressing optimism about de-escalating trade tensions. US officials cited 'progress' in the negotiations. The US team was led by Treasury Secretary Scott Bessent, while China was represented by Vice Premier He Lifeng. Treasury Secretary Bessent reported 'substantial progress' after the Sunday session. US Trade Representative Jamieson Greer noted the speed of agreement, suggesting differences were not as large as initially thought. Details are expected at an official briefing on Monday morning. Commerce Secretary Howard Lutnick said the talks aimed to 'de-escalate' tensions between the two largest economies. This follows tariff impositions by both countries. Geneva is also home to the World Trade Organization, where complaints have been filed against Trump's tariffs.