Geneva: The United States and China ended the first day of sales talks high in Geneva on Saturday, their first face-to-face meeting since President Donald Trump imposed a new wave of steep prices on Chinese imports.
Discussions behind closed doors, held at the residence of the Swiss ambassador, come while the two parties report a prudent desire to defuse one of the most serious commercial interventions of recent years.
US Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer met Chinese Deputy Deputy Chinese Vice on Saturday, the residence of the Swiss ambassador. The discreet villa of Lake Geneva was the framework of what the Chinese state media described as an “important step” towards the softening of tensions.
Discussions will continue on Sunday, according to a source close to the discussions.
Trump’s prices now total 145% on Chinese imports, certain products faced with an amazing right of 245%. Beijing retaliated with 125% tariffs on American products, pushing the two countries on the edge of an almost total commercial gel.
Trump suggested on Friday that he could reduce prices, displaying online that an “80% price on China seems right!” But his press secretary, Karoline Leavitt, said later that any reduction would depend on Chinese concessions. The message was clear: it takes two in Tango.
Commerce secretary Howard Lunick said Trump was open to de -escalation, but the prices would not go down for free. “The president would like to work with China,” he said. “He would like to defuse the situation.”
‘The relationship is not good’ ‘
“The relationship is not good,” said Bill Reinsch of the Center for Strategic and International Studies. “We have prohibitive commercial prices in both directions.”
However, analysts saw Reunion as a positive signal.
Xu Bin, a professor at China Europe International Business School, said the two parties were talking at all. “China is the only country that retaliated in kind at Trump prices,” he said.
Bessent clearly indicated that talks would focus on “de -escalation”, not a commercial agreement.
China, on the other hand, wants the United States to raise prices before making major movements. A comment from the Chinese news agency of Xinhua warned that “commercial wars and pricing battles give no winner” – a reminder that the two parties bleed.
The British agreement offers a glimmer of hope
Trump has concluded a separate agreement with Great Britain two days before the Geneva meeting – its first commercial pact since its launch of world rates. The five-page agreement provides sectoral relief on British steel, aluminum and cars, in exchange for access to the United Kingdom for beef and American agricultural products.
A 10% reference rate remains on most British imports, although Trump suggested that it could be lifted “if someone was doing something exceptional for us”.
Meanwhile, China’s latest export figures increased unexpectedly, helped by a change in trade to Southeast Asia – a possible sign that Beijing is to find ways to get around American tasks.
It is early, but Geneva talks can mark the start of a thaw. For the moment, both sides keep their cards near their chest – and hoping not to shoot themselves in the foot.
