After the United States and China held high-level economic and trade talks in Geneva, Switzerland from May 10 to 11, both sides announced on Sunday (5/11) that they had made substantial progress and would announce details on Monday.
The Associated Press reported that U.S. Treasury Secretary Scott Bessent told reporters: "The United States and China have made real progress in these very important trade negotiations." He also said: "The talks were productive."
"It was a very constructive two days," said U.S. Trade Representative Jamieson Greer. "It's important to understand that the fact that we were able to reach an agreement so quickly reflects that the differences may not be as great as we thought."
Xinhua News Agency reported that He Lifeng, the Chinese vice premier and chief negotiator for China-U.S. trade talks, stated at a press conference held by the Chinese delegation on the evening of the 11th local time that the high-level economic and trade talks between China and the United States were candid, in-depth, and constructive, reaching important consensus and making substantial progress. Both sides agreed to establish a China-U.S. economic and trade consultation mechanism. The two sides will finalize the relevant details as soon as possible and will release a joint statement on May 12th.
He Lifeng said that the talks were fruitful and took an important step in resolving differences through equal dialogue and consultation, laying the foundation and creating conditions for further bridging differences and deepening cooperation.
