U.S., China strike deal after extensive talks in Switzerland as Trump official touts ‘resolving’ ongoing trade war | 11 May 2025 | The U.S. and China have agreed on a deal to help resolve the trade war raging between the world’s two largest economies, top Trump administration officials announced Sunday. Details of the deal — struck during negotiations in Switzerland over the weekend — were not revealed, but officials teased that more information will be shared on Monday. “The U.S. has a massive $1.2 trillion trade deficit, so the President declared a national emergency,” U.S. Trade Representative Jamieson Greer said Sunday. “We’re confident that the deal we struck with our Chinese partners will help us work toward resolving that national emergency.”