Senior U.S. and Chinese officials met early Saturday in Geneva, marking a tentative first step toward easing a worsening trade war that has rattled global markets and supply chains, according to China’s state news agency and sources familiar with the talks.
China’s Vice Premier He Lifeng and U.S. Treasury Secretary Scott Bessent sat down for discussions after weeks of intensifying tensions, during which reciprocal tariffs between the world’s two largest economies surged past 100%.
The Geneva talks follow a decision last month by President Donald Trump to impose additional duties on dozens of countries. Trump escalated his rhetoric on Friday, stating that an 80% tariff on Chinese goods “seems right,” his first public suggestion of an alternative to the current 145% levies on Chinese imports.
The location of the talks had been kept under wraps. However, more than a dozen police vehicles were spotted outside a private residence in a leafy suburb of Geneva early Saturday. Around 9:30 a.m. local time, Bessent, U.S. Trade Representative Jamieson Greer, and a group of American delegates were seen moving through the lobby of the Intercontinental Hotel before entering waiting cars without addressing the press.
The Chinese delegation departed from the nearby President Wilson Hotel, with both convoys receiving heavy police escorts as they moved through the city. By late morning, Chinese state media confirmed the weekend-long negotiations were underway.
Tariffs imposed on Chinese goods by the U.S. since the start of the year now total 145%, with cumulative duties on some imports reaching 245%. In response, China has implemented 125% tariffs on American products, effectively creating a near embargo on trade between the two nations.
Beijing has insisted the U.S. must roll back its tariffs before further progress can be made and has vowed to protect its economic interests. Bessent has maintained that the current round of talks is focused solely on “de-escalation” rather than a comprehensive trade deal.
World Trade Organization Director-General Ngozi Okonjo-Iweala welcomed the dialogue, calling it a “positive and constructive step toward de-escalation.”
