As of May 12, 2025, the United States and China have reached a preliminary trade agreement following two days of high-level negotiations in Geneva.
U.S. Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer described the talks as productive, while Chinese Vice Premier He Lifeng called them candid and constructive, suggesting a mutual willingness to improve bilateral trade relations. Though full details have yet to be released, both sides are reportedly considering reductions to the steep tariffs currently in place—145% on Chinese imports to the U.S. and 125% on U.S. goods entering China. The news has been welcomed by financial markets, with U.S. stock futures rising in response. A joint statement detailing the specifics of the agreement is expected soon.
This development comes amid months of escalating trade tensions, which have disrupted global supply chains and spurred economic uncertainty. The Geneva negotiations signal a potential turning point, with both countries showing openness to further discussions and long-term cooperation on trade issues.
