The White House has announced that a trade deal with China has been struck after two days of talks in Geneva, while Beijing has hailed “important first steps.”
The announcement on Sunday came after the US treasury secretary, Scott Bessent, told reporters that there had been “substantial progress” in talks between his team and that of the Chinese vice-premier, He Lifeng, in Geneva on defusing the trade war between the world’s two largest economies sparked by Donald Trump’s 145% tariffs.
