Senior u s chinese officials meet in geneva to ‘de escalate’ trade war

Senior u s chinese officials meet in geneva to ‘de escalate’ trade war

Donald Trump’s tariffs on the Asian manufacturing giant since the start of the year currently total 145%, with cumulative U.S. duties on some Chinese goods reaching a staggering 245%; in retaliation, Beijing has slapped 125% levies on U.S. goods.

Senior U.S. and Chinese officials were meeting in Geneva on Saturday in a bid to de-escalate a trade war sparked by President Donald Trump’s sweeping tariff roll-out and further fuelled by Beijing’s robust retaliation.

U.S. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer were conferring with Chinese Vice-Premier He Lifeng in the first such talks between the world’s two largest economies since Mr. Trump slapped steep new levies on China last month.

The closed-door discussions began at mid-morning on Saturday and were due to continue on Sunday at the residence of the Swiss Ambassador to the United Nations in Geneva.

And after a break at around lunchtime, the delegations returned to the discrete villa with sky blue shutters near a large parc on the left bank of Lake Geneva.

Tariffs imposed by Mr. Trump on the Asian manufacturing giant since the start of the year currently total 145%, with cumulative U.S. duties on some Chinese goods reaching a staggering 245%.

In retaliation, China slapped 125% levies on U.S. goods, cementing what appears a near trade embargo between the world’s two largest economies.

Mr. Trump signalled on Friday that he might lower the sky-high tariffs on Chinese imports, taking to social media to suggest that an ‘80% Tariff on China seems right!’.

‘The President would like to work it out with China.... He would like to de-escalate the situation,’ U.S. Commerce Secretary Howard Lutnick told Fox News on Friday.

Reciprocation needed

Mr. Trump’s press secretary, Karoline Leavitt, clarified that the U.S. would not lower tariffs unilaterally, adding that China would need to make concessions as well.

In any case, a move to that level would be a symbolic gesture, since the tariffs would remain prohibitively steep.

Beijing has insisted the United States must lift tariffs first and vowed to defend its interests.