US' Bessent hails 'substantial progress' with China

12/5/2025 6:18

U.S. Treasury Secretary Scott

Bessent said on Sunday that there had been "substantial

progress" in talks between his team and that of Chinese Vice

Premier He Lifeng in Geneva on defusing a trade war between the

world's two largest economies.



Bessent said he would give more details on Monday, while

U.S. Trade Representative Jamieson Greer, also at the talks,

said the differences between the two sides were not as great as

previously thought.



"I'm happy to report that we've made substantial progress

between the United States and China in the very important trade

talks," Bessent told reporters.



Bessent said he had informed President Donald Trump of

the progress of the talks, and there would be a complete

briefing on details on Monday.



The talks had continued into a second day on Sunday as both

sides discussed how to de-escalate a trade war that threatens to

inflict major damage on the world economy.