By Staff, Agencies

The United States and China have agreed to establish a new platform for more tariff negotiations after two days of talks in Geneva, aimed at lowering trade tensions.

China’s Vice Premier He Lifeng described those talks as candid and constructive in Geneva, according to reports from state media, and said the countries have agreed to a new “trade consultation mechanism.”

“Thanks to the concerted efforts from both sides, the meeting has been productive and has been an important first step taken by the two sides to properly resolve their differences through equal footed dialogue, and also for bridging differences and deepening cooperation,” China’s He told reporters on Sunday. “This meeting has laid the foundation and created the conditions for that effort.”

Neither Chinese authorities nor the Trump administration provided further information on the terms of the agreement, and absent an immediate reduction of tariffs, the outcome of the talks is not likely to jump-start bilateral trade in the near future.

“We will be giving details tomorrow, but I can tell you that the talks were productive,” Treasury Secretary Scott Bessent said in a statement released to the press Sunday afternoon.

“I’m happy to report that we made substantial progress between the United States and China in the very important trade talks,” Bessent said.

US Trade Representative Jamieson Greer, who also attended the talks, echoed Bessent, saying in a statement it was “a very constructive two days.”

“We’re confident that the deal we struck with our Chinese partners will help us to work toward resolving that national emergency,” Greer added.

China’s He also told reporters that the US and China would issue a joint statement reached during talks Monday.

“China and the United States will finalize the relevant details as soon as possible and will issue a joint statement reached at the talks on May 12,” according to a readout from the Chinese delegation.

However, despite the upbeat assessment, the outcome of a new mechanism for talks risks falling short of expectations from even people close to the White House, who were confident the meeting between senior officials would offer an off-ramp for tariff levels viewed as wholly unsustainable.

Vice Premier He will lead the consultation mechanism — which will include multiple “working teams” — for the Chinese side, Li Chenggang, China’s international trade representative and a member of the Chinese delegation in Geneva, told reporters.

“The working teams from both sides are going to have regular and irregular communications relating to trade and economic issues,” Li said. “The timing as well as the venue or location for future communications will be determined by both sides.”

Beijing struck a more combative tone earlier Sunday by releasing comments by Chinese Assistant Foreign Minister Miao Deyu criticizing the Trump administration’s aggressive trade policies.

“The US uses tariffs as a weapon to exert maximum pressure and seek self-interest, embodying typical unilateralism, protectionism, and economic bullying, Miao said, per Chinese state media.

WTO Director-General Ngozi Okonjo-Iweala praised the progress from the countries in tariff negotiations in a statement on Sunday, and urged officials to continue negotiations.

Trump hailed progress after the first day of talks in a post on his social media platform Truth Social on Saturday, but did not provide many details. “A very good meeting today with China, in Switzerland. Many things discussed, much agreed to,” Trump wrote.