US and China announce trade deal in Geneva following high-stakes talks

News Snapshot:

US treasury secretary Scott Bessent and trade representative Jamieson Greer said on Sunday they reached a deal with China to cut the US trade deficit, describing “substantial progress” in high-stakes talks with Chinese officials but offering no details as two days of negotiations concluded in Geneva. Mr Bessent told reporters that details would be announced on Monday and that US president Donald Trump was fully aware of the results of the “productive talks” with Chinese vice-premier He Lifeng and two Chinese vice-ministers. Mr Bessent and Mr Greer did not mention any plans to cut US tariffs of 145 per cent...