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On May 11, 2025, the U.S. announced significant progress in trade talks with China held in Geneva. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer described the discussions as productive, crediting the Swiss government for creating a conducive environment. The negotiations aim to address the substantial trade deficit the U.S. has with China, which has resulted in the imposition of tariffs as part of a national emergency declared by President Trump.

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