In a bid to cool escalating trade tensions that threaten global economic stability, U.S. Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer have commenced negotiations with China’s Vice Premier He Lifeng in Geneva, Switzerland.
The secretive meeting—confirmed by diplomats and partially witnessed via motorcade activity—marks a crucial diplomatic attempt to reverse the trajectory of a damaging tariff war between the world’s two largest economies.
The discussions come amid record-high trade tariffs imposed by both sides: President Donald Trump recently hiked U.S. tariffs on Chinese goods to a combined 145%, prompting Beijing to retaliate with a 125% levy on American imports. These punitive measures have brought U.S.-China trade, valued at $660 billion in 2024, to a near halt.
Although the prospect of a major breakthrough remains uncertain, there is cautious optimism that the dialogue could lead to reduced tariffs and a renewed commitment to trade stability. In a Truth Social post ahead of the talks, Trump hinted at flexibility, saying “80% Tariff seems right! Up to Scott.”
The outcome of the Geneva talks could have far-reaching implications for international markets, global supply chains, and economic recovery post-pandemic.