‘Substantial progress’ at US-China trade talks, says Scott Bessent

News Snapshot:

The US treasury secretary, Scott Bessent, has reported “substantial progress” in talks with China’s top economic officials to avoid a damaging trade war, but offered no details of an agreement reached as two days of negotiations wrapped up in Geneva. Bessent said that details would be announced on Monday and that Donald Trump was fully aware of the results of the “productive talks”. US trade representative Jamieson Greer, who participated in the talks with Bessent, Chinese vice-premier He Lifeng and two Chinese vice-ministers, described the conclusion as “a deal we struck with our Chinese partners” that will help reduce the...