US and China agree to establish 'consultation mechanism' on trade

The lead US negotiator in trade talks with China cited "a great deal of productivity" in resolving differences between the world's two leading economic powers after officials wrapped two days of bargaining in Switzerland following President Donald Trump's steep tariffs and Beijing's retaliation.

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Chinese Vice Premier He Lifeng hailed what he called "important progress" in trade talks with the United States, at the end of a weekend of closed-door discussions in Switzerland. Speaking to reporters in Geneva, He said the atmosphere of the talks with US Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer had been candid, in-depth, and substantive, echoing similar language from the US delegation earlier in the day.