Both China and the United States said that the Geneva talks have made substantive progress and the details will be announced on the 12th

Both China and the United States said that the two-day talks in Geneva, Switzerland, had made "substantive progress". Chinese officials said that the two sides had reached "important consensus" and agreed to establish a China-Us economic and trade consultation mechanism.

According to reports from Reuters, Bloomberg and Xinhua News Agency, He Lifeng, the Chinese head of China-Us economic and trade talks and vice premier of The State Council, said in Geneva on Sunday (May 11) that the high-level China-Us economic and trade talks were candid, in-depth and constructive, reached important consensus and made substantive progress, taking an important step towards resolving differences through equal dialogue and consultation. It has laid the foundation and created conditions for further bridging differences and deepening cooperation.

He Lifeng said that China and the United States have unanimously agreed to establish an economic and trade consultation mechanism and clarify the leaders of both sides to conduct further consultations on economic and trade issues of mutual concern. China and the United States will finalize the relevant details as soon as possible and release the joint statement reached during the talks on Monday (the 12th).

U.S. Treasury Secretary Basent said, "We have made substantive progress in the very important China-Us trade negotiations." The talks were productive. He did not answer the reporters' questions, only saying that more details would be announced on Monday.

Negotiators from both sides attempted to convey a positive tone in individual conversations with reporters. He Lifeng praised the professionalism of the US side, while US Trade Representative Greer hinted that the trade conflict between China and the US might have been exaggerated.

Greer said, "The important thing is that we were able to reach an agreement so quickly, which reflects that the differences between the two sides may not be as big as imagined." Despite this, we have also made a lot of preparations for the talks over the next two days.

He said that the US imposition of tariffs was a response to the trade imbalance between China and the US, and the Trump administration regarded this as a national emergency. We are confident that the agreement reached with our Chinese partners will help us address this national emergency.

Neither the Chinese nor the US delegations announced specific measures in Geneva. He Lifeng said at a Chinese press conference, "Just as we say in China, good food is never too late." Whenever it is released, it will be good news for the world.

The high-level economic and trade talks between China and the United States were held at the residence of the Ambassador of Switzerland to the United Nations Office at Geneva from May 10th to 11th.