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US and China reach deal to slash tariffs, lifting dollar

U.S. Secretary of the Treasury Scott Bessent and U.S. Trade Representative Jamieson Greer attend a news conference after trade talks with China in Geneva, Switzerland, May 12, 2025. REUTERS/Olivia Le Poidevin

+ Geneva talks mark first high-level US-China meeting since Trump’s return

+ Trade war halted $600 billion in bilateral trade, sparking stagflation fears

+ New economic dialogue forum agreed by US and China post-talks