US and China Reach Preliminary Trade Agreement in Geneva Talks
| Category | Details |
|---|---|
| Event | US-China Preliminary Trade Agreement |
| Date | May 11, 2025 |
| Location | Geneva, Switzerland |
| Participants | US Delegation: Treasury Secretary Scott Bessent, Trade Representative Ambassador Jamieson Greer. China Delegation: Vice Premier, two Vice Ministers |
| Facilitator | Swiss government |
| Key Highlights | - Substantial progress achieved. <br>- President Trump briefed; details to be released soon. <br>- Major sticking points resolved through prior groundwork. |
| Aims and Objectives | - Address $1.2 trillion US trade deficit. <br>- Ease tariff tensions. <br>- Promote balanced trade. <br>- Re-establish cooperative ties. |
| Background | - Trade war began during Donald Trump's presidency. <br>- US imposed heavy tariffs citing unfair trade practices. <br>- China retaliated, disrupting global supply chains. |
| Significance | - Restore investor confidence. <br>- Ease inflationary pressures. <br>- Diplomatic success in US election year. |