US Treasury Secretary Scott Bescent’s File Photo | Photo Credit: Nathan Howard/Reuters
US Treasury Secretary Scott Bescent said on Sunday that there was “substantial progress” in a meeting between his team and China’s deputy prime minister, and that in Geneva he had “substantial progress” in easing the trade war between the two biggest economies in the world.
Bescent said he would provide more details on Monday, but US trade representative Jamieson Greer said at the meeting that the differences between the two sides were not as large as previously thought.
“We are pleased to report that great progress has been made between the US and China in a very important trade talks,” Bescent told reporters.
Bescent said he notified President Donald Trump of the progress of the talks and said there will be a full briefing on Monday on details.
The discussion continued until the second day on Sunday. This is because both sides discussed ways to eliminate trade wars that could cause serious damage to the global economy.
Released on May 11, 2025
