US-China Tariff Talks Begin in Geneva Amid Hopes to Ease Trade Tensions

Report by Safarti Tarjuman Business Desk

High-level trade talks between the United States and China began Saturday in Geneva, aiming to ease a deepening tariff dispute that threatens global economic stability.

US Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer held discussions with Chinese Vice Premier He Lifeng. The negotiations, taking place behind closed doors, are the first formal dialogue since both nations imposed record-high tariffs on each other’s goods.

A diplomatic source confirmed the initial session lasted approximately two hours and was followed by a working lunch. Though the exact venue remains undisclosed, a convoy of black vehicles was seen entering the residence of the Swiss ambassador to the United Nations.

The talks come on the heels of President Donald Trump’s decision to raise tariffs on Chinese goods to a combined 145%. In response, Beijing imposed a 125% duty on American imports. Both governments now seek a path toward potential tariff reduction.

Despite low expectations for a breakthrough, analysts believe both countries might agree on partial de-escalation. Sun Yun of the Stimson Centre noted that even a symbolic reduction could indicate progress, though concrete actions would be needed to restore confidence.

The current trade conflict traces back to Trump’s first term, when the US accused China of unfair practices in advanced technology sectors, including forced tech transfers and state subsidies. A 2020 “Phase One” agreement offered temporary relief, but was disrupted by the COVID-19 pandemic, with China falling short on promised US goods purchases.

The US trade deficit with China hit €233 billion last year. Since returning to office, Trump has expanded the use of tariffs, applying a 10% import tax to most nations globally.