U.S. and China Strike Breakthrough Trade Deal in Geneva
GENEVA / THE WHITE HOUSE, WASHINGTON — May 12, 2025
In a major diplomatic and economic development, the United States and China have reached a substantial preliminary trade agreement following two days of intensive negotiations in Geneva. The announcement was made jointly by U.S. Secretary of the Treasury Scott Bessent and U.S. Trade Representative Ambassador Jamieson Greer, who both characterized the discussions as “productive” and “constructive.”
Speaking from the Swiss venue, Secretary Bessent expressed gratitude to the host nation and optimism about the agreement’s impact. “We made substantial progress between the United States and China in these very important trade talks,” said Bessent. “The Swiss government has been very kind in providing us this wonderful venue, and I think that led to a great deal of productivity we’ve seen.”
While full details of the agreement are expected in a formal briefing scheduled for tomorrow morning, both Bessent and Greer confirmed that high-level officials from both sides—including China’s vice premier and vice ministers—played active roles in shaping the deal.
Ambassador Greer emphasized the speed and effectiveness of the negotiations, noting that “the differences were not as large as previously thought,” thanks in part to extensive groundwork laid ahead of the summit. “Just remember why we’re here in the first place,” he added. “The United States has a massive $1.2 trillion trade deficit. The President declared a national emergency and imposed tariffs—and we’re confident that the deal we struck with our Chinese partners will help us to work toward resolving that national emergency.”
Both officials confirmed that President Trump has been kept fully informed and supports the outcomes achieved in Geneva.
The Geneva agreement marks a potential turning point in U.S.-China trade relations, following months of tension and tariff escalation. Analysts and global markets now await the full disclosure of terms and their implications for international trade.