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Tariff discussions/ US and China hold talks in Geneva over the weekend

2025-05-10 08:46:00, Kosova & Bota CNA

Tariff discussions/ US and China hold talks in Geneva over the weekend

The US Treasury secretary and America's top trade negotiator will meet with senior Chinese officials in Switzerland this weekend to ease tensions in a dispute that threatens to disrupt trade between the world's two largest economies and damage global commerce.

Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer will meet in Geneva with a Chinese delegation led by Vice Premier He Lifeng.

Prospects for a major breakthrough appear dim. But there is hope that the two countries will reduce the massive tariffs they have imposed on each other's goods, a move that would ease global financial markets and companies on both sides of the Pacific that depend on U.S.-China trade.

US President Donald Trump last month increased US tariffs on China to a total of 145%, and China retaliated by hitting US imports with a 125% tax. Such high tariffs essentially lead to countries boycotting each other's products, disrupting trade that reached $660 billion last year.

Even before the talks began, Trump suggested on Friday that the US could lower its tariffs on China, saying in a post on Truth Social that an 80% tariff seems fair.

Sun Yun, director of the China program at the Stimson Center, noted that it will be the first time He and Bessent will speak. It is unclear whether the Geneva meeting will yield any substantive results./CNA





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