US-China Trade Talks Open Amid High Tariff Tensions
High-level trade talks have started in Switzerland between US Treasury Secretary Scott Bessent, US Trade Representative Jamieson Greer, and Chinese officials led by Vice Premier He Lifeng. The focus is on de-escalating trade tensions as massive tariffs strain global markets. Trump signals possible tariff reduction amidst ongoing trade disputes.
- Country:
- Switzerland
In a bid to ease economic tensions, US Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer have commenced talks in Geneva with Chinese delegates headed by Vice Premier He Lifeng. The discussions aim to mitigate the impact of trade tariffs between the United States and China, the world's largest economies.
The trade dispute has seen US President Donald Trump escalating tariffs on China, which retaliated with its own levies. The increased duties have effectively led to a standoff, disrupting a trade valued at over $660 billion last year. Trump has suggested potential tariff reductions, although expectations of a major breakthrough remain low.
While negotiations continue, analysts like Sun Yun from the Stimson Center see little chance for significant resolutions but hope for agreed de-escalations on tariffs. Meanwhile, the Swiss government expressed concerns over potential trade conflict repercussions following recent US tariff impositions, maintaining a cautious stance to protect economic interests.
(With inputs from agencies.)
Google News