China’s top economic official, Vice Premier He Lifeng, called recent U.S.–China trade discussions in Geneva “an important first step” toward stabilizing the relationship between the world’s two largest economies. The talks involved key U.S. figures, including Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer, and were described by both sides as productive and constructive.
A major outcome of the meeting was an agreement to establish a formal trade consultation mechanism to ensure ongoing dialogue. While no immediate deal was struck, this development has raised hopes for future cooperation and reduced trade friction. Markets reacted positively to the news, with the S&P 500 E-minis up 1.3% and Nasdaq futures rising 1.6%.
President Donald Trump praised the discussions as a “total reset” in U.S.–China relations, expressing confidence that China may soon open its markets more widely to American businesses. In contrast, Chinese officials used more measured language, referring to the outcome as a “consensus,” reflecting a cautious but optimistic stance.
The talks come after sharp tariff escalations from both sides—up to 145% by the U.S. and 125% by China—that have disrupted global supply chains. While the recent negotiations did not result in immediate tariff relief, they are seen as a meaningful step toward de-escalation.
Both nations are expected to release a joint statement on Monday, potentially offering further details on the roadmap ahead. Though the path remains uncertain, the Geneva talks have set a more hopeful tone for future economic engagement between the U.S. and China.
