US, China Begin Geneva Talks to Ease Tariff War

High-stakes trade talks between the US and China are set to take place in Geneva, led by US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng, aiming to ease escalating tariff tensions. President Donald Trump has called for China to open its markets to the US, describing closed markets as ineffective, and floated the possibility of reducing tariffs on Chinese goods from 145% to around 80%. These remarks signal a potential shift from Trump's previous hardline tariff stance amid ongoing retaliatory tariffs from China, which imposed 125% levies on American products. Despite the tariffs, China's exports have shown resilience with continued growth in April, although imports from the US have declined. US Trade Representative Jamieson Greer emphasized the goal of achieving fair trade and reciprocity rather than decoupling from China, highlighting the complexity of the negotiations. The talks represent a significant, tentative step toward de-escalating one of the world's most consequential trade conflicts.