US, China agree to ‘trade consultation mechanism’, conduct further talks, He Lifeng says

Chinese and US negotiators agreed to establish a “trade consultation mechanism” during two days of “constructive” talks in Geneva aimed at tamping down a tariff war, according to Chinese Vice-Premier He Lifeng. The two sides “have taken important steps to resolve differences through equal dialogue and consultation”, and planed to issue a joint statement on May 12, 2025. US Trade Representative Jamieson Greer, who took part in the talks with US Treasury Secretary Scott Bessent, He and two Chinese vice-ministers, described the conclusion as “a deal we struck with our Chinese partners”.