The White House announced today a significant breakthrough in U.S.-China trade negotiations, with a new deal reached following two days of productive talks in Geneva, Switzerland. Details of the agreement are set to be unveiled tomorrow, May 12, 2025, during a comprehensive briefing.
Secretary of the Treasury Scott Bessent expressed his satisfaction with the outcome, noting that the discussions yielded substantial progress. He credited the Swiss government for providing an ideal setting that fostered the negotiations’ success. Key participants included the Chinese Vice Premier, two vice ministers, and U.S. representatives, notably Ambassador Jamieson Greer. Both Bessent and Greer updated President Trump on the developments last night, ensuring he is fully briefed on the matter.
Ambassador Greer described the talks as highly constructive, emphasizing the speed with which an agreement was reached. This suggests that the differences between the two nations may not have been as wide as previously thought. He highlighted the extensive groundwork laid over the two days, underscoring the importance of the effort.
The negotiations were driven by a pressing $1.2 trillion trade deficit with China, which prompted President Trump to declare a national emergency and impose tariffs. U.S. officials are optimistic that the newly struck deal will pave the way toward resolving this economic challenge, marking a critical step forward in U.S.-China trade relations.
Further details are expected to emerge tomorrow morning as the administration prepares to provide a full account of the agreement.