U.S. trade talks with China were ‘productive,’ Bessent says

U.S. trade talks with China were ‘productive,’ Bessent says


U.S. Treasury Secretary Scott Bessent testifies before a House Financial Services Committee hearing entitled “The Annual Testimony of the Secretary of the Treasury on the State of the International Financial System,” on Capitol Hill in Washington, D.C., U.S., May 7, 2025.

Nathan Howard | Reuters

Treasury Secretary Scott Bessent said Sunday that trade talks with China officials in Geneva over the weekend were “productive.”

He said the talks yielded “a great deal” of productivity and that he would give more details in a complete briefing on Monday morning.

Bessent also said that he and U.S. Trade Representative Jamieson Greer both spoke to President Donald Trump on Saturday evening and “he is fully informed” about the discussions.

Greer said during remarks on Sunday that the officials reached some form of a “deal,” but did not provide any specifics. He hailed the discussions as “very constructive.”

“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,” Greer said.

“We’re confident that the deal we struck with our Chinese partners will help us work toward resolving that national emergency,” he added.

The high-stakes negotiations in Switzerland this weekend come amid widespread economic uncertainty stemming from the U.S.-China trade war.

Read more CNBC politics coverage

The two nations have been engaged in a tariff tit-for-tat in the weeks since Trump announced 145% tariffs on Beijing. In response, China raised its levies on U.S. goods to 125%.

The standoff has roiled the financial markets and sparked concerns of fewer goods and rising prices for consumers.

Trump praised the first day of discussions, writing that the U.S. officials had a “very good meeting today with China” in a Saturday Truth Social post.

“Many things discussed, much agreed to. A total reset negotiated in a friendly, but constructive, manner,” Trump wrote.

Bessent said that he and Greer met with the vice premier of China, in addition to two vice ministers, who the treasury secretary called “integrally involved” in discussions.



Source

Murdoch to provide Trump health updates in deal to delay Epstein case deposition
Politics

Murdoch to provide Trump health updates in deal to delay Epstein case deposition

U.S. President Donald Trump and Rupert Murdoch. Kevin Lamarque | Ricky Carioti | Via Reuters Conservative media baron Rupert Murdoch will give President Donald Trump regular updates on his health as part of an agreement to postpone Murdoch’s deposition in Trump’s $10 billion defamation lawsuit against him over a Wall Street Journal article about late […]

Read More
U.S. trade deficit hits a nearly 2-year low in June; China gap plunges
Politics

U.S. trade deficit hits a nearly 2-year low in June; China gap plunges

A ferry passenger looks at a cargo ship full of shipping containers at the port of Oakland, California, U.S., August 4, 2025. Carlos Barria | Cb The U.S. trade deficit narrowed in June on a sharp drop in consumer goods imports, and the trade gap with China shrank to its lowest in more than 21 […]

Read More
Trump says new semiconductor tariff plan coming as soon as next week
Politics

Trump says new semiconductor tariff plan coming as soon as next week

President Donald Trump said Tuesday he will unveil new tariffs on semiconductors and chips as soon as next week. “We’re going to be announcing on semiconductors and chips, which is a separate category, because we want them made in the United States,” Trump said during a lengthy interview on CNBC’s “Squawk Box.” Trump said that […]

Read More