US-China Begin Crucial Talks In Geneva In Bid To Ease Tariff Tensions

(MENAFN- Live Mint) Chinese Vice Premier He Lifeng and US Treasury Secretary Scott Bessent held high-stakes talks in Geneva on Saturday (May 10), marking a tentative step toward resolving a trade war.

The meeting comes amid skyrocketing tariffs-145% on Chinese imports to the US and 125% on US goods into China .

The two delegations met at the Swiss ambassador's residence, engaging in several hours of discussions. Talks were expected to continue into Sunday, raising cautious hopes of progress.

Washington: Push for fairer trade

US President Donald Trump , speaking on Friday, reaffirmed his hardline stance but opened the door to potential compromise.“We have to make a great deal for America,” Trump said when asked about the Geneva talks . He hinted at flexibility, suggesting an 80% tariff could replace the current 145% .

Pressed on whether he'd be disappointed if no deal was struck, Trump said:“No, but I think we're going to come back with a fair deal for both China and us.”

Trump stressed that even with new deals, a“minimum 10% baseline” tariff would remain.“There could be exceptions, but basically you have a baseline of at least 10%. Some will be much higher-40%, 50%, 60%-as they've been doing to us over the years,” he added.

Beijing: 'Solid as a rock'

China has firmly pushed back, demanding the US clarify its demands and treat Beijing as an equal partner. In a Saturday commentary, state-run Xinhua said:“China's determination to protect its national development interests is as solid as a rock... its stance on defending international fairness and the global economic order remains unwavering.”

Also Read | Ukraine-Russia war: EU leaders call for 30-day ceasefire; backed by Trump Background: Trade war impact

The trade war, intensified since Trump's January return to office, has severely disrupted global supply chains and heightened fears of a downturn. Trump cited unfair trade practices and China's failure to curb fentanyl exports as reasons for the tariff hikes.

With global attention on Geneva, the next few days could prove pivotal in determining whether the two economic giants can steer toward de-escalation-or slide deeper into conflict.

Also Read | Donald Trump's full statement as India and Pakistan agree for ceasefire

MENAFN10052025007365015876ID1109532479