Headlines have crossed from both the US and China sides on 'substantial progress' made in terms of trade talks held over the weekend in Switzerland.
BBG notes: "The US and China both reported “substantial progress” after two days of talks in Switzerland aimed at de-escalating a trade war, marking what Chinese Vice Premier He Lifeng called “an important first step” toward resolving differences." "While neither side immediately announced specific measures on Sunday, He said the world’s two biggest economies agreed to create a mechanism for further talks, led by US Treasury Secretary Scott Bessent and himself. Bessent said the US would share details on Monday and He promised a joint statement." see this link for more details.
Reuters stated: "U.S. Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer said on Sunday they reached a deal with China to cut the U.S. trade deficit, describing "substantial progress" in high-stakes talks with Chinese officials but offering no details as two days of negotiations concluded in Geneva." See this link.
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