US and China Hold Talks to Ease Trade Tensions
Senior American and Chinese officials convened in Geneva on Saturday for discussions aimed at reducing trade conflicts stemming from recent tariff escalations. The talks mark the first high-level dialogue since former President Donald Trump reinstated significant import taxes on Chinese goods last month, prompting Beijing to impose reciprocal measures.
US Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer engaged with Chinese Vice Premier He Lifeng during the closed-door meetings. The delegations arrived separately at Geneva’s upscale Intercontinental and President Wilson hotels, escorted by police motorcades that temporarily halted city traffic. While the precise meeting location was undisclosed, sources confirmed discussions were held at a private venue across the city.
Current US tariffs on Chinese products stand at 145%, with certain items facing cumulative duties as high as 245%. China has countered with 125% tariffs on American imports, creating near-total trade barriers between the economic powers. Ahead of the talks, Trump suggested via social media that reducing tariffs to 80% could be feasible, while Commerce Secretary Howard Lutnick emphasized the administration’s desire to resolve tensions.
White House spokesperson Karoline Leavitt stated any tariff reductions would require mutual concessions, calling potential adjustments largely symbolic given remaining high rates. Analysts noted the strained bilateral relationship, with trade expert Bill Reinsch observing, “Barriers are stifling commerce in both directions, but dialogue itself is progress.”
Chinese officials have repeatedly demanded the US lift tariffs first, asserting their commitment to protecting national interests. The Geneva discussions follow a recent US-UK trade arrangement that maintained a 10% baseline tariff on British goods while easing sector-specific duties. WTO Director-General Ngozi Okonjo-Iweala praised the US-China talks as a constructive move toward reconciliation.
Trump later hinted at possible flexibility in the 10% baseline tariff policy during negotiations with other nations, stating exceptions could occur for “exceptional” partnerships.
Source: Original Source