U.S.-China Tariff Talks in Geneva to Resume Sunday After Lengthy Saturday Session Shows No Progress
U.S.-China tariff negotiations in Geneva ended Saturday without public progress, set to resume Sunday. Led by U.S. Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng, the talks are the first since President Trump increased tariffs on Chinese imports to 145%, with China retaliating at 125%. The discussions, held at Villa Saladin, are shrouded in secrecy, with no official statements. The negotiations aim to address trade tensions and potentially stabilize global markets, amid concerns over tariffs impacting U.S.-China trade, which totaled over $660 billion last year.
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U.S.-China Tariff Talks in Geneva to Resume Sunday After Lengthy Saturday Session Shows No Progress
U.S.-China tariff negotiations in Geneva ended Saturday without public progress, set to resume Sunday. Led by U.S. Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng, the talks are the first since President Trump increased tariffs on Chinese imports to 145%, with China retaliating at 125%. The discussions, held at Villa Saladin, are shrouded in secrecy, with no official statements. The negotiations aim to address trade tensions and potentially stabilize global markets, amid concerns over tariffs impacting U.S.-China trade, which totaled over $660 billion last year.
First Face-to-Face Talks Since Tariff Escalation
The U.S. delegation, led by Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer, met with a Chinese team headed by Vice Premier He Lifeng at the historic Villa Saladin, a Swiss government-owned estate overlooking Lake Geneva. The setting, known for its discretion and diplomatic history, hosted the first in-person talks since Trump raised tariffs on Chinese goods to a combined 145% last month. China responded with retaliatory tariffs of 125% on American imports.
The Geneva meetings are the first time Bessent and He have met in person, adding a layer of uncertainty to the already tense atmosphere. Despite the extended duration of Saturday’s session, which spanned more than ten hours, neither side issued public statements, and convoys of black vehicles departed the venue in silence.
Talks Shrouded in Secrecy
The negotiations have been tightly guarded, with no official readouts or press briefings. An official familiar with the discussions told The Associated Press that the talks would continue Sunday, but declined to provide details on the substance or tone of the exchanges. The official emphasized the potential global significance of the talks, noting that a breakthrough could help stabilize financial markets rattled by the renewed trade standoff.
Diplomats from both delegations confirmed the meeting took place, but offered no further comment. The lack of transparency has fueled speculation about the prospects for de-escalation, especially given the complex history of U.S.-China trade relations.
Background: A Trade War Reignited
The current round of negotiations follows a dramatic escalation in trade tensions. Since returning to the White House in January, President Trump has aggressively wielded tariffs as a central tool of economic policy. In addition to the 145% tariffs on Chinese goods, he has imposed a 10% tax on imports from nearly every country, including a temporary 10% levy on Swiss exports.
Trump’s tariffs on China are partly aimed at pressuring Beijing to curb the flow of synthetic opioids like fentanyl into the U.S., but they also revive longstanding grievances over China’s industrial policies. During his first term, Trump accused China of unfair trade practices, including forced technology transfers, state subsidies to domestic firms, and intellectual property theft. These issues were only partially addressed in the 2020 “Phase One” agreement, which collapsed amid the COVID-19 pandemic and unmet Chinese commitments to purchase U.S. goods.
No Clear Signs of Progress
Despite the urgency of the talks, there was no immediate indication that Saturday’s meeting yielded any breakthroughs. The prolonged session suggests that both sides are engaging seriously, but the absence of public statements or leaked details leaves the outcome uncertain.
Sun Yun, director of the China program at the Stimson Center, expressed skepticism about the potential for substantive results. “The best scenario is for the two sides to agree to de-escalate on the tariffs at the same time,” she said. “Even a small reduction would send a positive signal. It cannot just be words.”
The talks are taking place against a backdrop of significant economic disruption. U.S.-China trade totaled over $660 billion last year, and the new tariffs have effectively created a mutual boycott of each other’s goods. Businesses on both sides of the Pacific are grappling with the consequences, from supply chain disruptions to rising costs.
Swiss Mediation and Broader Trade Tensions
The choice of Geneva as the venue underscores Switzerland’s role as a neutral host for sensitive diplomatic engagements. On Friday, Bessent and Greer also met with Swiss President Karin Keller-Sutter. Switzerland, which abolished all industrial tariffs on January 1, 2024, has taken a cautious stance amid rising global trade tensions. The Swiss government has warned that retaliatory measures against U.S. tariffs could harm key industries such as watches, cheese, and chocolate.
Currently, Swiss exports to the U.S. are subject to a 10% tariff, with an additional 21% set to take effect on Wednesday. The U.S. is Switzerland’s second-largest trading partner after the European Union, and bilateral trade has quadrupled over the past two decades.
Looking Ahead
While the Geneva talks continue behind closed doors, the stakes remain high. The outcome could influence not only the trajectory of U.S.-China relations but also the broader global trade environment. For now, the world watches and waits as the two largest economies attempt to navigate a path out of their deepening tariff conflict.
