Tariff talks begin between US and Chinese officials in Geneva
SUMMARY
U.S. Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer kicked off critical talks with Chinese Vice Premier He Lifeng in Switzerland, aiming to ease a contentious trade standoff. The Trump-brokered meeting comes amid a tariff war that has pushed U.S. duties on Chinese goods to a staggering 145%, with China retaliating at 125%—effectively bringing bilateral trade to a halt. President Trump hinted at flexibility, suggesting an “80% tariff seems right,” leaving the final call to Bessent. Still, hopes for a major breakthrough remain low. Analysts say even a small de-escalation would be a win. The tariff dispute stems from longstanding grievances: China’s tech theft, forced IP transfers, and heavy subsidies. Trump’s use of tariffs is also tied to punishing China’s role in the fentanyl crisis. Talks with Swiss officials are also underway, as Trump paused planned 31% tariffs on Swiss goods—but warned that could change.
