Top US, China officials say consensus reached on Geneva framework to de-escalate trade tensions

THE US and China have agreed in principle to a framework for de-escalating trade tensions by implementing the consensus they reached in Geneva, negotiators for both sides said.

“We have reached a framework to implement the Geneva consensus,” US Commerce Secretary Howard Lutnick told reporters in London.

The US and Chinese delegations will now take the proposal back to their respective leaders, said China’s chief trade negotiator Li Chenggang, after two days of discussions that spanned nearly 20 hours in a Georgian-era mansion near Buckingham Palace. 

“Once the presidents approve it, we will then seek to implement it,” Lutnick added.

US Trade Representative Jamieson Greer said there were no other meetings scheduled, but added that the American and Chinese sides talk frequently and are able to do so whenever they need. BLOOMBERG