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U.S.-China Trade Talks Signal Potential De-escalation in Tariff Dispute

Treasury Secretary Bessent reports 'substantial progress' as second day of Geneva negotiations concludes, with details expected Monday.

Members of the Chinese delegation leave a residence where trade talks between Chinese and U.S. delegations take place in Geneva, Switzerland, May 10, 2025.
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Overview

  • High-level trade talks between U.S. and Chinese officials in Geneva have concluded their second day, with both sides signaling progress in reducing tensions.
  • President Trump described the discussions as a 'total reset' and suggested potential tariff reductions, though no concrete details have been released yet.
  • Treasury Secretary Scott Bessent confirmed that key disagreements have been narrowed and announced that full outcomes will be disclosed on Monday.
  • China’s state media emphasized its commitment to core principles, warning against any proposals perceived as coercive or inequitable.
  • The tariff conflict, which has seen duties as high as 145% by the U.S. and 125% by China, has disrupted global supply chains and markets, heightening the stakes of these negotiations.