US and China to hold first talks in Geneva amid "Trade War"
On May 8 in Geneva, the US and China will sit down for talks following a sharp escalation in the trade conflict and mutual tariffs, which have already exceeded 100%.
Photo: pixabay.com
On Saturday, May 11, a key meeting between US and Chinese representatives on trade issues will take place in Geneva, as published on the US Department of the Treasury website.
The talks come amid a sharp deterioration in economic relations — in recent weeks, tariffs between the two countries have risen to record levels, exceeding 100%.
US Treasury Secretary Scott Bessent described the situation as a "de facto trade embargo."
Bessent's trip to Switzerland is a response to the rapidly worsening trade environment between the world's two largest economies.
According to the Secretary, President Donald Trump demands fair conditions for American companies and is ready to pursue his goals firmly.
In addition to the meeting with the Chinese side, Bessent will discuss economic challenges with Swiss President Karin Keller-Sutter, with whom he has already spoken on the sidelines of the IMF and World Bank spring session.
Washington aims for a "reset" of the global economic architecture in the interests of the US, and Saturday’s talks could become a turning point — either toward de-escalation or further intensification.
It was previously reported that US President Donald Trump announced that tariffs on Chinese goods would be significantly reduced, but not completely abolished. He called the current tariff level — 145% — too high and proposed to revise it.
It was also reported that China responded to the sharp increase in US tariffs with symmetrical measures — raising tariffs on American goods to 84%.