US, China to Begin Ice-Breaker Trade Talks in Geneva Amid Escalating Tariff War

Top trade officials from the United States and China will meet in Geneva this weekend for preliminary trade discussions, marking the first senior-level dialogue since tensions between the two economic giants erupted into a full-blown trade war.

US Treasury Secretary Scott Bessent and chief trade negotiator Jamieson Greer will hold talks with China’s economic czar He Lifeng. The meeting comes after both countries imposed record-high tariffs—up to 145% on Chinese goods and 125% on US exports—causing global market volatility and raising concerns of a global economic slowdown.

The agenda is expected to include potential tariff reductions, product-specific duties, US export restrictions, and the rollback of de minimis exemptions. China’s Ministry of Commerce confirmed the meeting, stating it was motivated by international pressure and domestic economic concerns, though it warned it will reject talks used as a façade for coercion.

Bessent emphasized the need to de-escalate tensions, calling current tariff levels “unsustainable” and equivalent to a trade embargo. China has also introduced monetary stimulus to offset economic fallout, signaling a more tactical stance ahead of negotiations.

While optimism surrounds the Geneva talks, analysts caution that any progress depends on both sides agreeing to scale back tariffs first. Meanwhile, President Trump continues to negotiate with other trade partners and may finalize deals within the coming weeks.