Global markets reacted positively to reports of progress in US-China trade talks held in Switzerland over the weekend. Stocks in Asia-Pacific rose, driven by optimism for a de-escalation of trade tensions. Both nations pledged to disclose details about their agreement shortly, following constructive discussions. U.S. Treasury Secretary described the talks as productive, and Beijing's Vice Premier echoed sentiments about the candid nature of the negotiations, resulting in a new trade consultation mechanism designed to improve relations after recent tariff increases on goods.
The two countries have agreed to a new trade consultation mechanism, suggesting a warming in relations as tensions eased after recent tariffs.
Treasury Secretary Scott Bessent described the discussions as productive, thanking the Swiss government for hosting and emphasizing the substantial progress made.
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