Commercial negotiations between the United States and China began in Geneva, Switzerland, according to the Chinese state media on Saturday (10), a sign of calm in the trade war triggered by Donald Trump’s tariffs.
The deputy premie, He Lifeng, will lead the negotiations on the Chinese side, while US Treasury Secretary Scott Bessent will be the leading US representative, state broadcaster CCTV in a report said.
Bessent asked earlier this week that a major business agreement of meetings would not be expected, but acknowledged that it was an important step in negotiations.
The US imposed a minimum rate of 145% on most Chinese imports, and China responded with a 125% rate on most US imports.
As a result, trade between the two sides is falling dramatically, according to logistics experts.
Even though halve reduction may not be sufficient to significantly change trade levels. Economists say 50% is the decisive limit for relatively normal business return between the two countries.
On Friday (9), hours after US commercial authorities left for Switzerland, Trump raised the possibility of reducing rates on Chinese products to 80%, while demanding China “open its market to the US.”
