High-Stakes Talks: US-China Trade Tensions in Geneva
US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer met with Chinese officials in Switzerland to ease trade tensions between the US and China. High tariffs on goods disrupt trade, which exceeded $660 billion last year, affecting financial markets and businesses worldwide.
- Country:
- Switzerland
In a bid to alleviate mounting trade strains, US Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer sat down with their Chinese counterparts in Geneva, Switzerland. The talks aim to ease hefty tariffs imposed by both nations, threatening global commerce with disruptions exceeding $660 billion.
Diplomatic efforts intensify as China and the US confront a multi-tiered trade impasse. With the US hiking tariffs to a daunting 145% and China retaliating in kind, both economies find their products virtually boycotted, pressuring markets across the globe.
Analysts remain skeptical about achieving a significant breakthrough, but there lies a glimmer of hope for minor de-escalations—a critical step towards stabilizing global trade. This meeting is underscored by multifaceted disputes, including historic tech policy grievances yet to be fully resolved.
(With inputs from agencies.)
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