US-China Trade Talks Yield Substantial Progress in Geneva

U.S. and Chinese officials met in Geneva for two days of high-level trade talks aimed at de-escalating the ongoing trade war marked by steep tariffs on each other's goods. Treasury Secretary Scott Bessent described the discussions as "productive" and reported "substantial progress," with Trade Representative Jamieson Greer noting that differences between the sides were smaller than initially expected. President Donald Trump also characterized the talks as a "total reset" conducted in a "friendly, but constructive, manner," expressing optimism about opening China to American business. White House economic advisor Kevin Hassett confirmed that China appeared eager to re-engage and normalize trade relations, with potential additional foreign trade deals forthcoming. Although specific details of the agreements remain pending, the talks represent the first face-to-face engagement since tariffs escalated, signaling a possible easing of tensions between the world's two largest economies. The negotiations are seen as critical to avoiding further damage to the global economy caused by the tariff disputes.