Top officials from the United States say they have made strong progress in recent trade talks with China. US-China Trade After two days of meetings in Geneva, Switzerland, both sides seem to have reached a deal that could impact the global economy in a big way.
“I’m happy to report that we’ve made substantial progress between the United States and China in these important trade talks,” said U.S. Treasury Secretary Scott Bessent. He described the talks as “productive.”
U.S. Trade Representative Jamieson Greer also said that an agreement had been reached. The talks came after President Donald Trump put a 145% tariff on most Chinese goods last month. In response, China placed a 125% tariff on U.S. goods.
“The president declared a national emergency and imposed tariffs,” Greer said. “We believe the deal we made with China will help solve the problem and move us forward.”
After two days of important trade talks in Geneva, U.S. officials say they’ve made big progress in reaching a deal with China. This agreement could help fix trade problems between the world’s two biggest economies.
U.S. Trade Representative Jamieson Greer said the deal came together faster than expected. “It’s important to understand how quickly we were able to come to an agreement,” he said. “This shows that the differences between us may not have been as big as people thought.”
Even though full details haven’t been shared yet, U.S. Treasury Secretary Scott Bessent said more information will be released Monday morning. CNN has asked the Treasury Department for more clarification.
Before the talks began, many officials didn’t expect a deal would happen so soon. The meetings were seen as just the beginning of a long process. Bessent said earlier that his goal was to ease tensions between the U.S. and China, especially after both countries put heavy tariffs on each other’s goods.
“These are very tough negotiators,” Greer said, referring to the Chinese team. He also said both sides worked hard and the talks were “very constructive.”
US-China Trade Deal: Talks Make Progress as Tariffs May Be Lowered
This weekend, top U.S. officials met with Chinese leaders in Geneva for two days of high-level trade talks. After their meetings, U.S. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer said they had made “substantial progress” and possibly reached a deal with China.
Bessent confirmed that both he and Greer had briefed President Donald Trump on the situation and that the president was “fully informed.” Trump had earlier posted on social media that he was open to lowering tariffs on Chinese goods from 145% to 80%, adding that the final decision was “up to Scott B.” However, the White House made it clear that China would also need to make some trade concessions in return.
The talks were seen as a major step toward improving the tense relationship between the U.S. and China. Since Trump’s 145% tariff was announced last month, Chinese exports to the U.S. have dropped by 60%, according to Ryan Petersen, CEO of Flexport, a company that manages international shipping and freight.
Even if tariffs are lowered to around 80%, some experts believe it still might not be enough to fully restart normal trade between the two countries. Economists have said that cutting the tariff closer to 50% would likely be the point where trade could start returning to normal levels.
This weekend’s agreement could be a sign that both countries are ready to work toward a more stable and fair trade relationship. More details on the deal are expected to be announced soon.
US-China Trade War Driving Up Prices and Hurting Imports, Experts Warn
The ongoing trade conflict between the United States and China is already making life more expensive for many Americans. With fewer Chinese goods arriving and high tariffs on the ones that do, prices are rising. Analysts at Goldman Sachs recently said inflation could double to 4% by the end of the year because of the tariffs set by President Donald Trump.
Even if a trade deal is reached soon, prices won’t drop right away. Goods that were already shipped under the current 145% tariff are now arriving in the U.S., and those higher costs are being passed on to consumers.
Americans rely heavily on Chinese products—everything from clothes and shoes to electronics, toys, and baby goods. These items have become a regular part of everyday life. But now, fewer of them are coming into the country. The National Retail Federation says imports to the U.S. in the second half of 2025 are expected to drop by at least 20% compared to last year. The drop in Chinese imports is expected to be even more severe, with JPMorgan predicting a 75–80% decline.
This slowdown is already affecting the broader U.S. economy. For the first time since early 2022, the nation’s gross domestic product (GDP) shrank in a recent quarter. Economists say that’s partly because companies rushed to bring in goods before the new tariffs took effect.
As trade talks continue, both the U.S. and China face pressure to find a solution that can bring stability back to global markets—and relief to American shoppers.
US-China Trade Talks Spark Hope Amid Rising Tensions and Economic Strain
The high tariffs between the United States and China are taking a toll on both economies. In China, exports to the U.S. dropped sharply last month. According to CNN, China shipped only $33 billion worth of goods to the U.S. in April 2025 — a steep 21% drop from $41.8 billion in April 2024.
This decline is putting serious pressure on China’s economy. The country’s factories are feeling the impact, with factory activity shrinking at its fastest rate in 16 months. As a result, the Chinese government may need to introduce new economic support to help its industries recover.
The recent trade talks in Geneva between U.S. Treasury Secretary Scott Bessent, U.S. Trade Representative Jamieson Greer, and Chinese officials have raised hopes for a better relationship between the two economic giants. Together, the U.S. and China represent the largest and second-largest economies in the world, larger than the next 20 countries combined, according to World Bank data.
In the days leading up to the talks, President Donald Trump also said he would bring up the case of Jimmy Lai, a well-known Hong Kong media tycoon who is currently on trial for national security charges and could face life in prison. Lai, the founder of the now-closed Apple Daily newspaper, has been critical of the Chinese government.
However, it’s unclear whether U.S. officials actually discussed Lai’s case during the meetings in Geneva.
As the trade war continues to affect both sides, the recent talks may be a first step toward lowering tensions, fixing trade issues, and stabilizing the global economy.
