The United States and China have reached a new trade agreement after two days of productive talks in Geneva, Switzerland. The announcement was made by U.S. officials in a press release from the White House.
U.S. Treasury Secretary Scott Bessent said the talks showed strong progress. He thanked Switzerland for hosting the event and said the venue helped create a productive environment. He confirmed that more details about the deal will be shared soon.
Bessent mentioned that several key leaders were involved, including China’s vice premier, two Chinese ministers, and U.S. Ambassador Jamieson Greer. He also said President Trump was updated on the progress.
U.S. Trade Representative Ambassador Jamieson Greer said the agreement came together quickly, showing that the differences between the two countries may not have been as large as expected. He added that the U.S. has been facing a $1.2 trillion trade deficit, which led to the declaration of a national emergency and the introduction of tariffs. He believes this new deal will help reduce the trade deficit and improve U.S.-China trade relations.
Full details of the trade deal are expected to be shared by the White House in the next briefing.
Weekend trading shows a positive start for U.S. markets following the China trade deal news. The Weekend Wall Street (DJI) index is up 207.1 points (+0.5%), trading at 41,517.4. Meanwhile, the Weekend US Tech 100 (NDX) index gained 127.6 points (+0.64%), currently at 20,204.6.
Note: Weekend Dow and Nasdaq are unofficial futures on platforms like IG, letting traders gauge market sentiment when markets are shut. They reflect reactions to news before Monday’s open.
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