Analysts have low expectations of a breakthrough, but host Switzerland hopes ‘roadmap’ will emerge.China’s trade envoy He Lifeng has met United States Treasury Secretary Scott Bessent in Switzerland for talks aimed at easing a trade war between the superpowers that is roiling global markets.
The first official engagement, since the US slapped a 145 percent tariff on Chinese goods, prompting a retaliatory 125 percent duty from China, began on Saturday at an undisclosed location in Geneva, Switzerland, according to the Chinese state news agency Xinhua.
A motorcade of black cars and vans was seen leaving the home of the Swiss ambassador to the United Nations in the suburb of Cologny, The Associated Press news agency reported.
A diplomatic source, speaking to AP on condition of anonymity because of the sensitivity of the meeting, said the sides met for about two hours before departing for a previously arranged luncheon.
The trade dispute, which effectively amounts to a mutual boycott of products, was prompted by US President Donald Trump last month when he announced sweeping duties on almost every country in the world, which are now subject to a 90-day reprieve while negotiations take place. Advertisement
Experts believe China may be looking for the same 90-day waiver as well as a reduction of the 145 percent tariff – Trump suggested that it could be reduced to 80 percent, saying in a Truth Social post on Friday that the amount “seems right”.
Trump’s press secretary, Karoline Leavitt, said on Friday that the US would not lower tariffs unilaterally, adding that China would need to make concessions as well.
Bessent has said the meetings in Switzerland would focus on “de-escalation”.
“The best scenario is for the two sides to agree to de-escalate on …
