Geneva, May 11 (EFE). – The United States and China made “substantial progress” in their first negotiations since the trade war broke out, Treasury Secretary Scott Bessent said Sunday at the end of a two-day meeting between senior officials from both countries in Geneva.
In a brief appearance alongside Trade Representative Jamieson Greer, both praised the diligence with which Chinese negotiators worked over the weekend.
Greer pointed out that it was “a very constructive two days. It’s important to understand how quickly we were able to come to an agreement, which reflects that perhaps the differences were not so large as maybe thought,” Greer said.
Bessent said the Chinese officials were “tough negotiators,” adding that they will present a detailed report in Washington on Monday.
He also recalled that their goal is to resolve the US trade deficit.
Overnight, Trump gave a positive reading of the talks, saying the two sides had negotiated “a total reset… in a friendly but constructive way.”
“We want to see, for the good of both China and the U.S., an opening up of China to American business. GREAT PROGRESS MADE!!!” Trump added, without elaborating.
These statements indicate a de-escalation of the trade war in which both powers have been immersed since the beginning of April, with reciprocal tariffs of 145% for Chinese products and 125% for American products, which in practice correspond to trade embargo levels. EFE
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