U.S. Treasury Secretary Bessent to Reveal China Trade Deal Details on Monday

TLDR

• U.S. and China announced a trade deal after weekend negotiations in Geneva, though specific details are not yet available
• Treasury Secretary Scott Bessent called the talks “productive” with a “great deal” of progress
• Officials from both countries spoke positively about the agreement, with China’s He Lifeng saying it “achieved substantial progress”
• The deal could bring relief amid recent trade tensions following Trump’s 145% tariff announcement and China’s 125% counter-tariffs
• A complete briefing with more details is expected Monday morning

In a development that could ease global economic tensions, the White House announced on Sunday that U.S. and Chinese officials have reached a trade deal after weekend negotiations in Geneva. However, the announcement came without specific details about what the agreement contains.

Treasury Secretary Scott Bessent described the talks as “productive” and yielding “a great deal” of progress. He indicated that a complete briefing with more information would take place Monday morning.

The weekend discussions in Switzerland involved high-level officials from both countries, including U.S. Trade Representative Jamieson Greer and Chinese Vice Premier He Lifeng. Both Bessent and Greer reportedly spoke with President Donald Trump on Saturday evening, keeping him “fully informed” about the discussions.

BREAKING: U.S. Announces China Trade Deal in Geneva pic.twitter.com/JjgvYAvAGe

— The White House (@WhiteHouse) May 11, 2025

Positive Signals from Both Sides

Officials from both countries expressed optimism about the outcome. Greer noted the speed of reaching an agreement, suggesting that “perhaps the differences were not so large as maybe thought.” He added that the deal would help work toward resolving what the administration has termed a “national emergency.”

Chinese Vice Premier He Lifeng characterized the meeting as having “achieved substantial progress and reached important consensus.” He stated that the two sides had agreed on creating a consultation mechanism for trade and economic issues.

China International Trade Representative Li Chenggang hinted that a statement with more details would be coming soon, though he did not specify timing.

“As we say back in China, if the dishes are delicious, then timing is not a matter,” Chenggang remarked. “I think no matter when this statement is released, it’s going to be big news. Good news for the world.”

Recent Trade Tensions

The Geneva negotiations took place against a backdrop of growing trade hostilities between the world’s two largest economies. President Trump announced 145% tariffs on Chinese goods on April 2, to which China responded with 125% levies on U.S. products.

This escalation has created uncertainty in financial markets and raised concerns about potential price increases for consumers and reduced availability of goods. Any de-escalation could bring welcome relief to the global economy.

Trump himself commented positively on the first day of discussions. In a Saturday post on Truth Social, he wrote that U.S. officials had a “very good meeting today with China” and mentioned that “many things discussed, much agreed to.” He described the negotiations as “a total reset negotiated in a friendly, but constructive, manner.”

The Treasury Secretary noted that the U.S. team met with the vice premier of China and two vice ministers who were “integrally involved” in the discussions.

With limited information currently available, businesses and markets will be watching closely for Monday’s briefing when Bessent is expected to provide more comprehensive details about the nature and scope of the agreement.

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