US-China trade talks in Geneva over the weekend ended with constructive messages from both sides, with officials stressing progress has been made, although no concrete agreement has yet emerged. “We have made significant progress in our trade talks with China,” US Treasury Secretary Scott Bessent said, adding that more details would be shared on Monday. US Trade Representative Jamieson Greer painted a positive picture, saying, “These two days have been very constructive. Our differences are not as great as we previously thought.” The talks in Geneva were held between Chinese Vice Premier He Lifeng and senior U.S. officials Bessent and Greer in an effort to ease tariff wars that have hit global supply chains and raised concerns of an economic recession. However, the Chinese side has made it clear that it will not make concessions during the negotiation process. Chinese state media CGTN confirmed that the talks were continuing on Sunday, while the Xinhua news agency published a commentary saying, “Concessions do not bring respect.” The agency said a solution could be found with the support of a fair and determined international community. Related News: BlackRock Issues “Quantum Computing” Warning About Bitcoin (BTC) - Here's What It Means There was no official statement from either side after eight hours of closed-door talks on Saturday. As of Sunday evening, no concrete agreement had been announced. Ahead of the talks, China had argued that the US should show good faith in lifting the tariffs. However, US President Donald Trump has rejected those claims, although he has hinted that the tariffs on China could be lowered if the talks go well. Trump also raised import tariffs on China to 145%, and Beijing responded by imposing 125% tariffs on U.S. products. According to China’s April export data, total exports rose 8.1%, while exports to the United States fell 21%, the sharpest decline in 21 months. No cargo ships departed Chinese ports for major ports on the U.S. west coast on Friday, CNN reported. *This is not investment advice. Continue Reading: Second Day of US-China Tariff Trade Talks Ends: Here Are the Latest Updates and Details
