On May 12, the United States and China will announce a trade agreement. Reuters sources report that the breakthrough on de-escalating the trade war came during a meeting between American and Chinese delegations in Geneva.
From the US side, Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer took part in the talks. The Chinese delegation included Vice Premier He Lifeng and Deputy Minister of Commerce Li Chenggang.
Following the meeting, both sides confirmed significant progress but declined to reveal the terms of the deal until an official statement is released.
What is known so far is that the...