US and China to Hold Ice-Breaker Trade Talks in Geneva on Saturday

Report by Safarti Tarjuman Business Desk

The United States and China are set to resume high-level trade talks in Geneva this Saturday, marking a potential turning point in the prolonged trade war between the world’s two largest economies. U.S. Treasury Secretary Scott Bessent and Chief Trade Negotiator Jamieson Greer will lead the American delegation in a meeting with Chinese Vice Premier He Lifeng, signaling a possible thaw in relations that have strained global markets.

The White House confirmed the meeting late Tuesday, a statement later echoed by Beijing. The announcement lifted U.S. equity futures and sent Chinese and Hong Kong stocks higher as Asian markets opened. Bessent indicated that some preliminary agreements could emerge from the talks, which are expected to cover tariff rollbacks and specific trade measures such as de minimis rules and the U.S. export control list.

The meeting in Switzerland comes amid escalating economic friction, with tariff rates climbing to punitive levels—some as high as 145%—under the Trump administration. Bessent likened the impact of such tariffs to “an embargo,” warning they could further destabilize global trade. He emphasized the urgent need for de-escalation during an appearance on Fox News, stating, “We’ve got to de-escalate before we can move forward.”

The Office of the U.S. Trade Representative and the Treasury Department confirmed that Bessent and Greer will also meet with Swiss President Karin Keller-Sutter to discuss reciprocal trade and broader economic cooperation. China’s Ministry of Commerce acknowledged the upcoming talks, stating that the decision to re-engage with Washington was made after considering global expectations, national interests, and feedback from U.S. industry and consumers.