Overview

• US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng are leading talks aimed at easing a trade war that has imposed tariffs of 145% on Chinese goods and 125% on US goods.
• The discussions, held at a private location in Geneva, are centered on reducing tensions rather than reaching a comprehensive trade deal.
• President Trump has suggested lowering US tariffs on Chinese imports to 80%, but this remains contingent on concessions from Beijing, which has demanded that the US lift tariffs first.
• The trade conflict has disrupted global markets, stoked fears of economic downturn, and significantly reduced bilateral trade between the two largest economies.
• Negotiations are expected to resume on Sunday, with both sides setting low expectations for immediate breakthroughs but viewing the talks as an important first step.