US, China agree to slash tariffs
Digest more
Trade experts anticipate a spike in trade during talks and a substantial deal, but the risk of inflation and economic slowdown may not be over.
U.S. Trade Representative Jamieson Greer said the U.S. is holding concurrent trade talks with China and other countries. "All of this is happening in parallel, and we are happy to move as quickly as other parties are willing to move,
Treasury Secretary Scott Bessent said the details would be announced on Monday after two days of negotiations in Geneva.
Trade discussions between Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng ended after a weekend of prolonged negotiations.
High-level talks between the United States and China have begun in Geneva, Switzerland, Chinese state media reported on Saturday, in a possible thaw in the trade war sparked by President Donald Trump’s massive tariffs.
Reuters, the news and media division of Thomson Reuters, is the world’s largest multimedia news provider, reaching billions of people worldwide every day. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers.
The de-escalation provides both sides with breathing space to find a way to preserve trading ties that were threatening to grind to a halt.
U.S. stocks climbed Monday after Treasury Secretary Bessent touted substantial progress on talks with the Chinese setting up a busy week of trade talks as President Trump heads to the Middle East. In economic and earnings news,