{"id":137052,"date":"2025-05-11T17:46:59","date_gmt":"2025-05-11T17:46:59","guid":{"rendered":"https:\/\/quixnet.net\/wpinstance\/us-china-trade-talks-in-geneva-intended-to-de-escalate-tensions-says-lutnick-the-guardian\/"},"modified":"2025-05-11T17:46:59","modified_gmt":"2025-05-11T17:46:59","slug":"us-china-trade-talks-in-geneva-intended-to-de-escalate-tensions-says-lutnick-the-guardian","status":"publish","type":"post","link":"https:\/\/quixnet.net\/wpinstance\/us-china-trade-talks-in-geneva-intended-to-de-escalate-tensions-says-lutnick-the-guardian\/","title":{"rendered":"US-China trade talks in Geneva intended to \u2018de-escalate\u2019 tensions, says Lutnick – The Guardian"},"content":{"rendered":"

US treasury secretary\u2019s remarks on second day of meetings come after Trump hails \u2018total reset\u2019 in America-China ties
The White House announced on Sunday that a trade deal with China<\/a> has been struck after two days of talks in Geneva<\/a>.
The announcement, in a press release, comes after US treasury secretary Scott Bessent told reporters that there had been \u201csubstantial progress\u201d in talks between his team and that of the Chinese<\/a> vice-premier, He Lifeng, in Geneva on defusing the trade war between the world\u2019s two largest economies sparked by Donald Trump<\/a>\u2019s 145% tariffs.
In remarks that were posted on social media<\/a> by the White House, Bessent said he would give more details on Monday, \u201cbut I can tell you that the talks were productive\u201d.
\u201cI\u2019m happy to report that we\u2019ve made substantial progress between the United States and China<\/a> in the very important trade talks,\u201d Bessent told reporters.
The US trade representative, Jamieson Greer, who spoke alongside Bessent, suggested<\/a> more strongly that a deal had been reached.
\u201cIt\u2019s 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,\u201d Greer said.
\u201cJust remember why we\u2019re here in the first place,\u201d he added. \u201cThe United States has a massive $1.2 trillion trade deficit, so the President declared a national emergency and imposed tariffs, and we\u2019re confident that the deal we struck with our Chinese partners will help us to resolve, work toward resolving that national emergency\u201d.
Bessent said he had informed Trump of the progress of the talks.
The meeting was the first face-to-face interaction between Bessent, Greer and He since the world\u2019s two largest economies imposed tariffs well above 100% on each other\u2019s goods.
Although Bessent has said the bilateral tariffs were too high and needed to come down in a de-escalation move, he did not offer any details of reductions agreed and took no questions from reporters.<\/p>\n

On Saturday night, Trump wrote<\/a> on his social media platform that the two sides were working on \u201ca total reset … in a friendly, but constructive, manner.\u201d
\u201cMany things discussed, much agreed to,\u201d Trump posted. \u201cWe want to see, for the good of both China and the U.S., an opening up of China to American business. GREAT PROGRESS MADE!!!,\u201d Trump added. Trump\u2019s rhetoric, that China needs to be \u201copened\u201d to US business seemed to ignore a half century of trade between the two nations since one of his political heroes, Richard Nixon, visited China in 1972.
The US commerce secretary, Howard Lutnick, confirmed to CNN that the US will continue to keep \u201ca 10% baseline tariff to be in place for the foreseeable future\u201d even on imports from nations the US strikes new trade deals with.<\/p>\n

On Sunday, Kevin Hassett, the director of the National Economic Council, said: \u201cWhat\u2019s going to happen in all likelihood is that relationships are going to be rebooted. It looks like the Chinese are very very eager to play ball and renormalise things \u2026 they really want to rebuild a relationship that\u2019s great for both of us.\u201d
Last week, Trump and UK prime minister, Keir Starmer, announced a limited bilateral trade deal<\/a>.
Hassett said the UK agreement provided a \u201creally exciting blueprint\u201d and that he had been briefed on 24 deals with other nations which are in the works. \u201cThey all look a little bit like the UK deal but each one is bespoke,\u201d he said.
Meanwhile, Lutnick dismissed reports of dock workers and truckers losing their jobs as a result of the tariffs.
\u201cThis is just a China problem right now,\u201d Lutnick said. \u201cThe rest of the world is 10% [tariffs]. So don\u2019t overdo it.\u201d
\u201cPrices are going to stay stable once this policy is done,\u201d Lutnick added.
Reuters contributed reporting<\/em><\/p>\n

source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

US treasury secretary\u2019s remarks on second day of meetings come after Trump hails \u2018total reset\u2019 in America-China tiesThe White House announced on Sunday that a trade deal with China has been struck after two days of talks in Geneva.The announcement, in a press release, comes after US treasury secretary Scott Bessent told reporters that there […]<\/p>\n","protected":false},"author":1,"featured_media":137053,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[9],"tags":[],"class_list":["post-137052","post","type-post","status-publish","format-standard","has-post-thumbnail","category-us","entry"],"_links":{"self":[{"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/posts\/137052","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/comments?post=137052"}],"version-history":[{"count":0,"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/posts\/137052\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/media\/137053"}],"wp:attachment":[{"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/media?parent=137052"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/categories?post=137052"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/tags?post=137052"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}