Rewind to a Pivotal Moment: US-China Talks Unfold in Geneva Anew
US and China resume talks regarding Trump's tariffs on Sunday - U.S.-China trade talks resume on Sunday, focusing on the controversial Trump tariffs
Hey there! Let's dive into the latest international headlines, focusing on a fresh round of talks between the USA and China, happening right in the heart of Geneva as we speak. The scenes were set on a Saturday morning, with key players like US Treasury Secretary Scott Bessent, Trade Representative Jamieson Greer, and China's Vice-Premier in charge of trade, He Lifeng, taking center stage.
Now, you might remember that the US President, , had implemented a hefty 145% tariff on most Chinese imports, and China responded by slapping a 125% tariff on many US products. But recently, before these high-level talks, ol' Don seemed open to negotiations, voicing his support for an 80% tariff on China instead. However, speaking of Karoline Leavitt, his press secretary, she made it clear that the concessions wouldn't all be on one side: the USA won't be lowering tariffs unilaterally.
It's been a hot topic, with China consistently insisting that the USA drop its tariffs first. Chinese economist Xu Bin shared his thoughts, stating that the Geneva meeting is more about demonstrating that both nations are actively working together, rather than sealing a colossal trade deal. To put it all in context, China is the only nation worldwide to have fired back with counter-tariffs against Trump's trade storm.
Prior to the meeting, US Treasury Secretary Bessent declared that the talks in Geneva would focus on "de-escalation," rather than a grand trade deal. He remained tight-lipped upon leaving the negotiation venue on Saturday evening.
A swift agreement in Geneva might be a long shot, considering that Trump's administration had already announced a first trade agreement with the UK just a few days earlier.
- Spotlight: China and USA
- Where: Geneva, Switzerland
- When: Sunday
- Topic: Negotiations and Tariffs
- Key Figures: Donald Trump, Scott Bessent, Jamieson Greer, He Lifeng
Note: A breakthrough in these talks, dated May 12, 2025, resulted in China suspending its initial 34% tariff on US goods for 90 days, while maintaining a 10% tariff during this period. In addition, non-tariff countermeasures taken against the US were removed. Both countries also agreed to hold ongoing discussions on economic and trade relations, with designated representatives leading the talks, and potential meetings taking place in China, the US, or a third country. This agreement marked a significant move to address unfair trade practices and the trade deficit with China.
- The European Parliament, Council, and Commission are closely monitoring the tariff negotiations in Geneva, understanding their implications for global industry and finance.
- Policy-makers and economists across Europe are following the US-China talks with keen interest, as the discussions could shape the course of politics and general news in the coming months.
- As the USA and China continue their negotiations, the European Parliament calls for coherent policy-and-legislation within the EU, ensuring it maintains a competitive edge in the global market.
