United States – China: Towards a Trade De-escalation After Constructive Talks in Geneva
Title: US and China Establish Commercial Consultation Mechanism to Ease Trade War Tensions
After two days of what were deemed "constructive" discussions in Geneva, American and Chinese negotiators have agreed to establish a "commercial consultation mechanism" aimed at alleviating the ongoing tariff war between the two economic giants. This announcement was made on Sunday evening by Chinese Vice Premier He Lifeng.
He, who oversees economic and trade relations with the United States, praised this major development: "Both parties have taken a significant step towards resolving their disputes through fair dialogue and consultations," he stated, as reported by the Xinhua news agency. A joint statement is expected to be released on Monday, also outlining plans to continue discussions on matters of mutual interest.
Chinese state television, CCTV, characterized the exchanges as "frank, in-depth, and constructive," highlighting the "substantial progress" made by both sides.
A similar sentiment was echoed in Washington, where US Treasury Secretary Scott Bessent confirmed significant advancements. Jamieson Greer, the US Trade Representative who participated in the talks, also commended the negotiations as being "very constructive."
US President Donald Trump expressed his satisfaction on Saturday, noting "great progress" and mentioning a "total reset," which was negotiated in a "friendly yet constructive" manner.
Ngozi Okonjo-Iweala, the Director-General of the World Trade Organization (WTO), welcomed this development, calling the talks an "important step" and a "positive signal for the future."
The discussions, held at the Swiss ambassador’s residence to the United Nations, marked the first direct face-to-face encounter between American and Chinese officials since the onset of the trade war, which has seen mutual tariffs imposed exceeding 100%.
Despite ongoing tensions, Chinese customs data released on Friday revealed an 8.1% increase in the country’s overall exports in April compared to the previous year, although exports to the United States plummeted by 21%, underscoring the significant impact of American sanctions on bilateral trade.
