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U.S. and China Set for First Major Trade Talks Since Tariff War Began

Treasury Secretary Bessent and Trade Representative Greer will meet Chinese officials in Geneva this weekend to initiate de-escalation efforts.

U.S. Treasury Secretary Scott Bessent waits for the IMFC Breakfast to begin during the 2025 annual IMF/World Bank Spring Meetings in Washington, D.C., U.S., April 25, 2025. REUTERS/Ken Cedeno/File Photo

Overview

  • Treasury Secretary Scott Bessent confirmed that the U.S. and China will hold their first significant trade negotiations in Geneva this Saturday, marking a potential shift in the ongoing tariff conflict.
  • The Chinese Commerce Ministry has announced that its vice premier will represent China in the talks, emphasizing that China will not compromise its principles or global equity in any agreement.
  • Bessent described the Geneva discussions as a de-escalation step to address the economic strain caused by the U.S.-China trade war, which has seen tariffs rise to 145% on U.S. goods and 125% on Chinese goods.
  • While Bessent has indicated that negotiations with 18 other trading partners are progressing, he declined to disclose which countries are close to reaching agreements, citing risks to U.S. interests.
  • White House trade adviser Pete Navarro, who has been a key advocate for higher tariffs, will not participate in the Geneva talks, signaling a potential shift in the administration's approach.