
The United States and China on Sunday said that progress had been made after a weekend of talks aimed at de-escalating trade tensions sparked by US President Donald Trump’s aggressive tariff rollout. The increasingly ugly trade spat between Washington and Beijing has rocked financial markets and raised fears of a global economic slowdown and an inflationary spike in the United States. “We’ve made substantial progress between the United States and China in the very important trade talks,” US Treasury Secretary Scott Bessent told reporters in Geneva after the second day of discussions. “The talks were productive,” he said, taking no questions but promising a “complete briefing” on the outcome on Monday. In a statement on Sunday, which did not provide any additional details, the White House hailed what it called a new “trade deal” with China. China’s Vice Premier He Lifeng told reporters the meetings had achieved “substantial progress,” echoing Bessent’s remarks, and described the atmosphere as “candid, in-depth...