US announces China trade deal in Geneva

TEHRAN, May 11 (MNA) – The White House touted a "China trade deal" on Sunday — without providing details — after two top US officials alluded to a potential agreement with China following talks between the two countries in Switzerland at the weekend.

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12 May 2025

EghtesadOnline: "U.S. Announces China Trade Deal in Geneva," read the White House's headline for a transcript of Treasury Secretary Scott Bessent's and U.S. Trade Representative Jamieson Greer's remarks to reporters, NBC News reported on Sunday.

Bessent and Greer had struck an optimistic tone regarding the state of a potential trade agreement with China, noting that the administration would provide additional details on Monday. While Greer referred to an "agreement" and "deal," neither official provided details. China has not yet publicly weighed in on whether the two countries have struck a deal.

“I’m happy to report that we made substantial progress between the United States and China in the very important trade talks,” Bessent told reporters, adding that “the talks were productive.”

During Bessent and Greer's brief remarks — which lasted just over two minutes — Greer appeared to reference an agreement between the two sides as he touted the talks as constructive.

“This was, as the secretary pointed out, a very constructive two days,” Greer said. “It’s important to understand how quickly we were able to come to agreement, which reflects that perhaps the differences were not so large as maybe thought. That being said, there was a lot of groundwork that went into these two days.”

Greer continued, referencing a trade deficit with China and saying that “we’re confident that the deal we struck with our Chinese partners” would help the U.S. “work toward resolving that national emergency.”

In April, Trump declared that “foreign trade and economic practices have created a national emergency.”

A spokesperson for the Chinese Embassy in Washington, D.C., did not immediately respond to a request for comment on Sunday.

Bessent said he and Greer spoke with Trump on Saturday and that the president was “fully informed of what is going on.”

Heading into the weekend, White House officials indicated they were eager to negotiate, even as they insisted the U.S. would not unilaterally lower the duties without concessions from the Chinese.

“I think we’re going to have a good weekend with China,” Trump said during Thursday’s presentation of a preliminary U.K. trade agreement.