Chinese Vice Premier He Lifeng has resumed negotiations with U.S. Treasury Secretary Scott Bessent in Geneva, marking an initial step toward easing tensions and the ongoing trade war between the world’s two largest economies, reports Gazeta Sinjali.
The meeting follows weeks of escalating tensions, during which import tariffs between the two countries have surged—reaching over 100% in some sectors. The trade conflict intensified after U.S. President Donald Trump imposed new tariffs on dozens of countries, disrupting global supply chains and alarming financial markets. This has raised fears of a potential global economic downturn.
The U.S. government is seeking ways to reduce its trade deficit with China and push Beijing to abandon its mercantilist economic model, urging greater contribution to global consumption. However, this would require sensitive internal political reforms in China, Reuters reports. On the other hand, Beijing has pushed back, viewing Washington’s demands as external interference, and has insisted that the U.S. lower its tariffs, clarify its purchase requests, and treat China as an equal partner in global trade.
Meanwhile, Trump has suggested that an 80% tariff on Chinese goods “seems fair,” offering for the first time an alternative to the existing 145% tariffs imposed on Chinese imports. Since taking office in January, the U.S. president has steadily raised tariffs, blaming unfair trade practices and China’s failure to curb exports of chemicals used in fentanyl production. China responded with retaliatory tariffs of 125%.
