US, China Report Substantial Progress in Geneva Trade Talks

Recent high-stakes trade talks between the United States and China in Geneva have resulted in substantial progress toward resolving ongoing trade tensions fueled by aggressive tariffs. U.S. officials, including Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer, described the discussions as productive, highlighting involvement from senior Chinese officials such as Vice Premier He Lifeng. While specific details of any agreement have not yet been disclosed, the talks aimed at addressing the massive U.S. trade deficit and included negotiations on potential de-escalation of tariffs, which currently reach up to 145% on Chinese goods and 125% on U.S. goods by China. President Trump acknowledged the progress via social media, referring to a “total reset” and expressing openness to lowering tariffs, with speculation about rates around 80%. Despite cautious optimism from some U.S. officials, experts remain skeptical about a full return to normal trade relations, noting China's stronger position in the trade war. A complete briefing with further details is expected soon, as markets and international observers await clarity on the outcome.