US‑China trade negotiations reignite hopes for resolution
In Geneva, Switzerland, trade talks between the US and China began on Saturday, according to Reuters, citing China's state agency Xinhua. The meeting, which aims to address the recently tense bilateral relations, includes participants such as US Treasury Secretary Scott Bessent and China's Vice Premier He Lifeng.
Reuters reported that it was able to verify the news shared by a Chinese source.
US - China talks
This is the first such a meeting since the beginning of the trade war between the two countries. In response to President Donald Trump's decision in early April to significantly increase tariffs on all imports from China, Beijing responded in kind.
On Friday, the American leader indicated that he would be willing to agree to reducing the current tariff rate on Chinese products from 145% to 80%. Commenting on these remarks, White House spokeswoman Karoline Leavitt admitted that this figure is one the president just threw out, and they will see what happens next. She also noted that the US will not reduce tariffs without appropriate concessions from Beijing.
The Sino-American trade talks in Geneva are scheduled for Saturday and Sunday.
Escalation of the trade war
No country has been more affected by Trump's trade war than China, the largest exporter and the world's second-largest economy, Reuters noted, recalling that when the American president announced his tariffs on 2nd April, China retaliated with its own tariffs, which Trump saw as a sign of disrespect.
Since then, both countries have been increasing mutual tariffs on goods; currently, tariffs on Chinese goods in the US are 145%, and Chinese tariffs on exports from America are 125%.
