Donald Trump. Credit: Joshua Ascoff, Shutterstock
The White House announced in a press release on Sunday (May 11, 2025) that the US has reached a temporary trade agreement with China after two days of high-level negotiations in Geneva.
However, authorities stopped sharing specific details and left questions about what was actually agreed upon.
US-China Trade Contract: Major progress, but no details
US Treasury Secretary Scott Bescent, led a collaboration with US trade representative Jamieson Greer, to describe the meeting as “productive” and said a full briefing will take place on Monday, May 12th.
“We have made great strides between the US and China in very important trade talks,” Bescent told reporters. USA TODAY.
“It was done in a spirit of cooperation, shared interests and mutual respect,” he added without adding.
The statement followed a month-long standoff between the two largest economies in the world after the two countries imposed tariffs of more than 100% on each other’s goods. The White House described the results as a “China trade agreement,” but neither Bescent nor Greer explicitly confirmed that the formal transaction was signed.
Trump promotes “reset”
US President Donald Trump, who declared a “national emergency” with a US trade deficit of $1.2 trillion, wiped out 145% tariffs on Chinese goods last month. China responded with a retaliatory tariff of 125%.
In a post on his true social platform on Saturday night (May 10), Trump said the talks were “a total reset… in a friendly yet constructive way.”
“A lot of things were discussed and a lot of things agreed,” Trump wrote. “We want to see the opening from China to American business for the benefit of both China and the US. Great progress!!!”
Still, there was no comment from the Chinese government on Sunday evening. It remains unclear whether a tariff reduction has been agreed.
At a press conference in Geneva, Greer said the speed of the agreement suggests that the differences between the two countries may not have been as great as originally anticipated.
“It’s important to understand how quickly we were able to come to terms,” Greer said, quoting. Guardian. “Remember why we are here… The President has declared a national emergency. I am confident that a deal with Chinese partners will help us work to resolve it.”
Commerce Secretary Howard Lutnick confirmed CNN The 10% baseline tariff remains in imports, including those from countries with new trade transactions.
“Once this policy is complete, prices will remain stable,” Rutnick said. He also dismissed concerns about US unemployment and argued that “this is a China issue right now.”
China’s announcement follows the US-UK trade agreement, which was released on Thursday, May 8th.
What will happen to you? Has there been real progress between the US and China, or is this all political bravery?
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