Mon, 12 May 2025

Mon, 12 May 2025 US says 'deal' reached with China after trade talks

The US treasury secretary calls the talks "productive", while China's vice premier describes them as "candid".

* Talks described as "productive and constructive" by US Treasury Secretary Scott Bessent, "in-depth" and "candid" by China's Vice Premier He Lifeng
* Joint statement expected on Monday with full details of the agreement
* Tariffs between the two countries could be cut, although experts disagree on the likelihood of this happening
* Stocks in mainland China and Hong Kong making gains as a result of the talks
* US stock futures sharply higher
* Chinese currency yuan strengthens against the US dollar
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