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Chinese Vice Premier He Lifeng: Significant consensus reached between China and the U.S., substantial progress achieved in talks

AinvestSunday, May 11, 2025 7:03 pm ET
1min read

Chinese Vice Premier He Lifeng: Significant consensus reached between China and the U.S., substantial progress achieved in talks

Geneva, Switzerland - U.S. Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer have reported significant progress in two days of high-stakes trade talks with Chinese officials in Geneva. The negotiations, which concluded on Sunday, resulted in a deal that both sides described as substantial progress in addressing the U.S. trade deficit.

According to Bessent, the talks with Chinese Vice Premier He Lifeng and two Chinese vice ministers were productive, with both sides reaching agreement on key points. Greer described the outcome as "a deal we struck with our Chinese partners" that will help reduce the $1.2 trillion U.S. global goods trade deficit. He noted that the rapid agreement suggests that the differences between the two nations were not as large as previously thought.

While the details of the agreement are yet to be announced, Bessent and Greer indicated that they would be provided on Monday. The U.S. officials did not mention any specific plans to reduce the punishing tariffs of 145% on Chinese goods and 125% on U.S. goods, which have been a source of contention between the two countries.

The negotiations took place at the gated villa of Switzerland's U.N. ambassador, overlooking Lake Geneva. The choice of venue was made following recent visits by Swiss politicians to both China and the United States. The talks were the first face-to-face interaction between senior U.S. and Chinese economic officials since the Trump administration launched a global tariff blitz in 2018.

The White House has expressed optimism about the talks, with economic adviser Kevin Hassett stating that the Chinese were "very, very eager" to engage in discussions and rebalance trade relations. Hassett also mentioned that deals with other countries could be announced as early as this week.

President Donald Trump posted a positive reaction on his Truth Social platform, describing the talks as a "total reset" done "in a friendly, but constructive, manner." He also noted that "many things discussed, much agreed to," and expressed a desire for China to open up to American business.

The trade talks come amid high levels of distrust between the two countries, with economic analysts having low expectations of a breakthrough. However, the swift agreement suggests that the differences between the two nations may not be as insurmountable as previously thought.

Reference List:
[1] https://www.reuters.com/world/china/us-china-talks-defuse-trade-row-resume-geneva-2025-05-11/
[2] https://www.cryptopolitan.com/scott-bessent-strikes-trade-deal-with-china/

Ask Aime: What impact will the trade deal between China and the U.S. have on the stock market?

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Elibroftw
05/11
"Looks like the US-China trade talks were a real Netflix binge—two days, one deal, and everyone’s walking away with a 'substantial progress' glow. The Geneva villa vibes were on point, but let’s not forget the real deal is still TBD. Tariffs? Nah, they’re just window dressing. The real question is, can they keep the reset button pressed long enough to make it to the credits? 'Talk is cheap,' as they say. 🎬
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one_ugly_dude
05/12
@Elibroftw "Geneva talks: where diplomacy meets fast-forward. Next up: tariffs as supporting actors, and the plot twist? Maybe no more 145% drama. Fingers crossed they don't hit pause before the credits roll. 🍿"
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NRG1788
05/11
Gotta love it when China and US put aside differences, makes me bullish on global trade. 🌍💼
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serenity561
05/11
Consensus in Beijing means biz for $AAPL soon?
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NoAd7400
05/11
Hope it lasts; volatility's a trader's worst enemy. 😅
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smooth_and_rough
05/11
Phase one deal done, phase two next? I'm holding $AAPL, thinking long-term gains. Trade talks boost investor confidence, right?
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investorVXY
05/12
@smooth_and_rough Holding $AAPL long? What's your target?
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zaneguers
05/11
Beijing flexing economic muscles. US companies in China making moves. Time to diversify portfolios? Watching $TSLA for any China updates.
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dritu_
05/11
China and US making moves, gotta watch the markets.
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NoBicDeal
05/11
US-China deal could boost tech stocks, not just $TSLA.
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Quiet_Maybe7304
05/11
China's opening up on finance. Think more forex freedom. Could this be the start of a new era for traders?
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Stevitop
05/11
He Lifeng talking big, but let's see results.
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JobuJabroni
05/11
Trade war truce? My portfolio thanks the optimists.
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FaatmanSlim
05/11
US-China consensus feels like a breath of fresh air. Trade war fatigue real, but opportunities abound for savvy traders.
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flog_fr
05/11
@FaatmanSlim What do you think will happen to the markets next?
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tenebrium38
05/11
He Lifeng's got game. China-US talks not just talk. Real money on the line. Who's ready for some serious market moves? 🚀
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cheesycrustz
05/11
@tenebrium38 Ready for moonshot?
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titavasfk
05/11
Damn!!🚀 NVDA stock went full bull as tools from Pro benefits. Cashed out $193 gains!
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