{"id":1535427,"date":"2025-05-11T16:40:37","date_gmt":"2025-05-11T20:40:37","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1535427"},"modified":"2025-05-11T16:40:37","modified_gmt":"2025-05-11T20:40:37","slug":"bessent-says-us-china-made-substantial-progress-on-deal-after-very-constructive-2-days-of-negotiations","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/bessent-says-us-china-made-substantial-progress-on-deal-after-very-constructive-2-days-of-negotiations\/1535427\/","title":{"rendered":"Bessent Says US, China Made “Substantial Progress” On Deal After “Very Constructive” 2 Days Of Negotiations"},"content":{"rendered":"

Bessent Says US, China Made “Substantial Progress” On Deal After “Very Constructive” 2 Days Of Negotiations<\/span><\/p>\n

\n

Just hours after Trump praised China tariff talks<\/a>, saying that “great progress” had been made and that a “total reset” of relations was on the table, the second day of trade negotiations between the US and China concluded moments ago, and there was more good news:\u00a0Treasury Secretary\u00a0Scott Bessent\u00a0and US Trade Representative\u00a0Jamieson Greer\u00a0said that the US and China made \u201csubstantial progress\u201d <\/strong>adding that they will share more details on Monday.<\/p>\n

The announcement followed hours of meetings between Bessent, Greer and Chinese Vice Premier\u00a0He Lifeng. The talks were hosted by the Swiss ambassador to the United Nations, whose residence was used as the venue for the two countries\u2019 teams.<\/p>\n

Here are the Bloomberg and Reuters headlines after day 2:<\/p>\n

BESSENT: US, CHINA MADE ‘SUBSTANTIAL PROGRESS’ ON DEAL
\n\tGREER: IMPORTANT TO UNDERSTAND HOW QUICK WE CAME TO AGREEMENT
\n\tTHIS WAS A VERY CONSTRUCTIVE 2 DAYS
\n\tDIFFERENCES NOT AS GREAT AS PREVIOUSLY THOUGHT<\/span>
\n\tBESSENT: COMPLETE BRIEFING COMING TOMORROW MORNING<\/p>\n

Bessent said that “talks were productive” and involved China’s Vice Premier, two Vice Ministers who were integrally involved, Ambassador Jamieson and myself.” Bessent said that he “will be giving details tomorrow.”<\/p>\n

“I spoke\u00a0 to President Trump, as did Ambassador Jamieson last night, and he is fully informed of what is going on. There will be a complete briefing tomorrow morning.”<\/p>\n

Treasury Secretary Scott Bessent’s statement regarding US-China trade\/tariff talks in Geneva \u2b07\ufe0f<\/p>\n

“We will be giving details tomorrow. But I can tell you that the talks were productive.” pic.twitter.com\/MvfALA5IzR<\/a><\/p>\n

\u2014 Tucker Carlson Network \ud83c\uddfa\ud83c\uddf8 Fan Account (@TCNetworkFans) May 11, 2025<\/a><\/p>\n

Separately, USTR Jamieson Greer said that “it’s important to understand how quickly we were able to come to agreement which were that perhaps the differences were not so large as maybe thought.”<\/p>\n

“That being said, there was a lot of groundwork that went into these two days… we’re confident that the deal we struck with our Chinese partners will help us to resolve, work toward resolving that national emergency.”<\/strong><\/p>\n

\ud83d\udea8 JUST IN: A DEAL has been struck with the Chinese on trade after Scott Bessent’s discussions…<\/p>\n

GREER: “It’s important to understand how quickly we were able to come to agreement which were that perhaps the differences were not so large as maybe thought.”<\/p>\n

“That being said,\u2026 pic.twitter.com\/EhpFEC2fKe<\/a><\/p>\n

\u2014 Eric Daugherty (@EricLDaugh) May 11, 2025<\/a><\/p>\n

Tensions between the world\u2019s two biggest economies reached a new high point after President\u00a0Donald Trump\u00a0steadily increased tariffs on Beijing to 145%. The duties are supposed to address China\u2019s role in the fentanyl trade, its massive trade surplus with the US, and respond to Beijing\u2019s retaliatory measures imposed after Trump\u2019s opening salvo. China in response increased its tariffs on US goods to 125%. Looking forward, however, Goldman expects a substantial drop in tariffs, expecting them to be cut by at least a half.<\/p>\n

<\/a><\/p>\n

The tariff tit-for-tat led to a standoff between the world\u2019s two largest economies, with neither side wanting to budge and no off-ramp in sight; however amid the economic slowdown, both sides acknowledged a reduction in tensions and tariffs is necessary and public talks were announced.<\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nSun, 05\/11\/2025 – 12:40<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/political\/bessent-says-us-china-made-substantial-progress-deal-after-very-constructive-2-days<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

Bessent Says US, China Made “Substantial Progress” On Deal After “Very Constructive” 2 Days Of Negotiations Just hours after Trump praised China tariff talks, saying…<\/p>\n","protected":false},"author":0,"featured_media":1535428,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[1],"tags":[],"class_list":["post-1535427","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","wpcat-1-id"],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/pbimBl-6rqX","jetpack_featured_media_url":"https:\/\/bugaluu.com\/news\/wp-content\/uploads\/sites\/3\/2025\/05\/US20China20tariffs20revised20Goldman_0-3TrxlW.png","_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1535427","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1535427"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1535427\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media\/1535428"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1535427"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1535427"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1535427"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}