“It’s important to understand how quickly we were able to come to an agreement, which reflects that perhaps the differences were not so large as far as maybe thought,” said Greer, who did not say what agreement he was referring to. Speaking to reporters near the villa, Greer and Bessent gave a statement but did not take questions.
Greer also stressed that closing the U.S. trade deficit with China, which reached a record $263 billion last year, is a top Trump priority this year.
“We’re confident that the deal we struck with our Chinese partners will help us to resolve, work toward resolving that national emergency,” Greer said.
The discussions could help stabilize world markets roiled by the U.S.-China standoff that has ships in port with goods from China unwilling to unload until they get the final word on tariffs.
Last month, Trump raised U.S. tariffs on China to a combined 145%, and China retaliated by hitting American imports with a 125% levy. Tariffs are that high essentially because countries boycott each other’s products, disrupting trade that last year topped $660 billion.
In its editorial, Xinhua said, “Talks should never be a pretext for continued coercion or extortion, and China will firmly reject any proposal that compromises core principles or undermines the broader cause of global equity.”
Still, top members of the Trump administration were following the president’s lead in insisting that a reset of U.S.-China trade relations could be in the offing.
“Secretary Bessent has made clear that one of his objectives is to de-escalate,” U.S. Commerce Secretary Howard Lutnick, who wasn’t in Geneva, said on “Fox News Sunday.” He added that the U.S. and China have both imposed tariffs that are “too high to do business, but that’s why they are talking right now.”
“We are the consumer of the world. Everybody wants to sell their goods here,” Lutnick said. So they need to do business with Americans, and we’re using the power of our economy to open their economy to our exporters.”
Kevin Hassett, director of the White House National Economic Council, told Fox News Channel’s “Sunday Morning Futures” that “what’s going to happen in all likelihood is that relationships are going to be rebooted. It looks like the Chinese are very, very eager to play ball and to renormalize things.”
“We’re essentially starting over, starting from scratch with the Chinese,” Hassett said. “They seem to think that they really want to rebuild a relationship that’s great for both of us.”
The talks mark the first time the sides have met face-to-face to discuss the issues. And though prospects for a breakthrough are slight, even a small drop in tariffs, particularly if taken simultaneously, would help restore some confidence.
“Negotiations to begin de-escalating the growing US–China trade war are badly needed and it’s a positive sign that both sides were able to gracefully move beyond their bickering over who had to call first,” Jake Werner, director of the East Asia Program at the Quincy Institute for Responsible Statecraft, said in an email.
The Trump administration has imposed tariffs on countries worldwide, but its fight with China has been the most intense. Trump’s import taxes on goods from China include a 20% charge meant to pressure Beijing into doing more to stop the flow of the synthetic opioid fentanyl into the United States.
The remaining 125% involve a dispute that dates back to Trump’s first term. It arises from tariffs he levied on Cback, which means the total tariffs on some Chinese goods can exceed 145%.
Associated Press
10 comments
ScienceBLVR
May 11, 2025 at 4:02 pm
Oh yeah? Where’s the “Beef” boys? Lots of talk about progress, but no talk about facts, details, a big beautiful wall, right? Cue Alan Parsons Project..
Tell you ’bout a dream that I have every night
It ain’t in Kodachrome and it isn’t black and white
Take me for a fool if you feel that’s right
You’re taking me there but I don’t wanna go
I don’t care it’s all psychobabble rap to me
Psychobabble all psychobabble
Psychobabble all psychobabble
I don’t care it’s all psychobabble rap to me
EARL PITTS AMERICAN
May 11, 2025 at 5:36 pm
OK America, I, EARL PITTS AMERICAN, believe we all know this Treasury Secretary Scott Bessent, is “Full of Smelly Brown and can not be trusted as he is a wanker.
Thank you, America
Foghorn Leghorn
May 11, 2025 at 6:26 pm
Trump still running circles around Biden. Blinken and the rest? Dems just out burning Tesla cars, busting into ICE detention centers and visiting El Salvador prisons.
Ocean Joe
May 11, 2025 at 4:10 pm
“Secretary Bessent has made clear that one of his objectives is to de-escalate,” U.S. Commerce Secretary Howard Lutnick, who wasn’t in Geneva, said on “Fox News Sunday.” He added that the U.S. and China have both imposed tariffs that are “too high to do business, but that’s why they are talking right now.”
Remind us, who was it that escalated in the first place? Yes, the backdown, bluffing blowhard, that’s who. We’re going to be lucky he doesnt wreck it all and instigate collapse of the dollar as the world reserve currency.
Home Profit System
May 11, 2025 at 5:56 pm
My friend recommended to me and I’ve gotten 2 checks for a total of $9,200…this is the best decision I made in a long time! This extra cash has changed my life in so many ways, thank you…
Go ON my ProFILE
Michael K
May 11, 2025 at 6:12 pm
Always talk. Always promises. Never details. Never.
Foghorn Leghorn
May 11, 2025 at 9:48 pm
Trump will get a deal and Biden still sleeping at the beach or on “The View” where the progressive ladies stroke his ego.
Michael K
May 12, 2025 at 12:02 am
I’m sure it will be as good as Trumps healthcare plan and infrastructure week and lowering the price of eggs and ending the war against Ukraine as he promised on day one.
EARL PITTS AMERICAN
May 11, 2025 at 6:23 pm
Off Topic:
Fox News has made a serious error in thinking anyone gives a “FLYING FUCQYE” about these 2 [TWO] Topics:
1.) The Mendenez Brothers
AND
2.) P.Ditty and his “Scrumpy Rumpy” Parties.
We, The American People, dont give a “FLYING FUCQYE”.
Thank you
EARL PITTS AMERICAN
Trump Bank Failure
May 12, 2025 at 12:09 am
Why your bank could fail,their are so many ways it will fail in the summer Google Florida Bank Failure Risks