The United States and China concluded two days of intensive trade negotiations in Geneva, marking the first face-to-face talks since January’s exchange of steep tariffs. US Treasury Secretary Scott Bessent described the discussions as “productive and constructive,” while China’s Vice Premier He Lifeng called them “in-depth” and “candid.” Though full details will be released Monday, sources suggest both nations may agree to partial tariff reductions—though rates would remain historically high.
The talks aimed to de-escalate tensions after the US imposed 145% tariffs on Chinese imports, prompting Beijing to retaliate with 125% levies on American goods. These measures have rattled global markets and contributed to a 0.3% contraction in the US economy last quarter. Former US trade official Frank Lavin predicted modest tariff cuts, while Deborah Elms of the Hinrich Foundation cautioned that the outcome might simply be “an agreement to keep talking.”
WTO Director-General Ngozi Okonjo-Iweala praised the dialogue as “a significant step forward,” urging continued momentum. Meanwhile, President Trump hailed a “total reset” in US-China relations on social media, emphasizing “GREAT PROGRESS” in opening China to US businesses. However, White House officials stressed that unilateral concessions were off the table, and any deal would require mutual compromises.
