US Treausry Sec. Bessent: Talks in Geneva with China resulted in a mechanism to avoid escalation

US Treasury Secretary Scott Bessent said on Tuesday that “talks in Geneva with China resulted in a mechanism to avoid escalation.”

Additional quotes

President Trump wants to rebalance the US economy.
China needs to rebalance towards consumption economy.
We do not want a generalised decoupling between the two largest economies in the world.
United States will bring medicine, semiconductor and other strategic industries home.
Very productive discussions with Japan.
Focused on Asia deals, Indonesia has been very forthcoming, Taiwan presented very good proposals.

May 13, 2025

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