The White House announced a "China trade deal" in a May 11 statement, but did not disclose details. The apparent agreement came together sooner than most observers expected after Trump's 145% tariffs on Chinese imports virtually halted $600 billion in annual trade between the world's two largest economies.

Representatives from China and the U.S. met for a second day Sunday to discuss trade policies amid fallout from President Donald Trump’s tariff plan.

Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer told reporters that more details would be provided on Monday.

After second day of talks with the U.S., Chinese Vice Premier He Lifeng said trade talks with the U.S. “achieved substantial progress and reached important consensus.”

Tariff rates on small packages from China will be cut in half, though a flat-fee option will not change, the White House said Monday. Why it matters: Trump previously ended a loophole that allowed low-value goods into the country tariff-free — the rate reversal will ease price pressures on customers of Chinese retailers like Shein and Temu.

The White House has said its agreements with the U.K. and China are starting points, but so far the Trump administration has given up more than it has gained.

The White House on Sunday published details of what could be a historic trade deal with China, the world’s No. 2 economy, after President Donald Trump imposed a series of crippling tariffs aimed at resetting economic conditions between both nations.

An alumnus of the first Trump White House assessed that, of Trump’s Cabinet, Bessent seems to be the “most serious person in the room.”

Officials wrapped up two days of bargaining in Switzerland and touted "substantial progress." More details are expected on Monday.

The United States and China made “substantial progress” in trade talks over the weekend, Treasury Secretary Scott Bessent said Sunday, after representatives from the two countries met amid an escalating trade war. The White House claimed in a news ...