US, China hail ‘substantial progress’ made in tariff talks in Geneva

Following the talks on Sunday at the Geneva villa of the Swiss ambassador to the United Nations, US Treasury Secretary Scott Bessent told reporters: “I’m happy to report that we’ve made substantial progress between the United States and China in the very important trade talks.” The meetings marked the first time that senior officials from the world’s two largest economies have met face-to-face to tackle the topic of trade since Trump slapped steep new levies on China last month, sparking a robust retaliation from Beijing. “The talks reflect that the current state of the trade relations with these extremely high tariffs is ultimately in the interests of neither the United States nor China,” Citigroup global chief economist Nathan Sheets told news agency AFP.

Author: Al Jazeera

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