White House Claims Strong Progress in China Trade Talks but No Deal Announced

The White House announced on May 11 that the US–China talks made “substantial progress” toward a potential China trade deal. However, no official trade agreement has been signed or released.

China Trade Deal Geneva Announcement. Source: The White House WEB

US Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer issued a joint statement saying the discussions were “productive.”

The White House added that more details about the US–China talks would be revealed on May 12.

“I am happy to report that we made substantial progress between the United States and China in the very important trade talks,”

Bessent said. Still, he did not mention a trade agreement in his statement. Greer briefly referred to a possible deal but gave no specific information.

The lack of details left investors unclear about what progress was actually made. The White House did not release any documents or outlines of the proposed China trade deal.

No Official Deal, Just a Promise of More Details

Despite the announcement of “substantial progress,” neither Bessent nor Greer confirmed that a formal trade agreement had been reached.

They also did not identify which sectors or goods were discussed in the US–China talks.

The only commitment made was to reveal more information on May 12. Until then, the terms of the potential China trade deal remain unknown.

Market participants have continued to monitor developments due to ongoing uncertainty.

The US–China talks have gained attention because of their potential impact on tariffs, imports, exports, and financial markets. However, as of now, there is no text of a trade agreement or signed deal.

The White House did not mention how the current discussions relate to past Trump tariffs or earlier negotiations. Without clear outcomes, uncertainty remains high in global trade sectors.

Trump Tariff Policies Have Shifted Repeatedly

The latest US–China talks come after a year of unstable tariff policy decisions under the Trump administration.

In April 2024, US Customs and Border Protection announced that certain technology products would be temporarily exempt from tariffs. The exemption list included smartphones, processors, and computers.

US Tariff Exclusion Update Effective April 5. Source: U.S. Customs and Border Protection

One day later, US Commerce Secretary Howard Lutnick reversed the policy. He stated that the exemption was temporary and a full tariff policy would be introduced later.

Lutnick explained the future tariff policy would use different rates based on economic sectors.

This reversal followed several similar moves where the administration changed its position within short timeframes. These changes have created instability in both tech and manufacturing sectors.

The lack of a stable tariff policy has also impacted confidence in the US–China talks. Without a clear direction, each announcement has brought more questions than answers.

Market Response to Unclear Trade Announcements

Previous announcements related to the China trade deal and Trump tariffs have caused price swings in global markets.

In some cases, brief rallies followed exemptions. But reversals, like the one led by Howard Lutnick, erased those gains.

In the tech sector, manufacturers reacted strongly to each change in tariff policy. Some paused shipments or reviewed supply chains after the US–China talks failed to result in stable conditions.

The cryptocurrency market also saw movement during this period. Bitcoin and altcoins reacted to policy changes, especially when tariffs affected electronics used in mining or trading.

On May 11, no market data was released to show how prices changed after the White House statement. Investors are now waiting for the May 12 announcement to confirm if any enforceable trade agreement will be introduced.

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