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US-China business council hails trade truce, urges further fentanyl controls

( May 14, 2025, 04:05 GMT | Official Statement) -- MLex Summary: US-China Business Council President Sean Stein said in a statement that the joint announcement — following the China-EU trade talks in Geneva — was a positive step toward resuming some bilateral trade and averting the worst of what US Treasury Secretary Scott Bessent called a trade “embargo.” However, he warned that the 90-day suspension still creates significant uncertainty for US companies, potentially undermining their long-term global competitiveness. Stein urged both sides to take further steps, calling on China to curb fentanyl shipments into the US and honor its “phase one” trade commitments to level the playing field for US firms.The statement follows:...

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