US, Chinese Officials Meet in Attempt to De-escalate Trade War

Geneva Talks: The First Between World's Two Biggest Economies Since Trump's April Tariffs

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GENEVA - Senior US and Chinese officials met in Geneva on May 10 in a bid to de-escalate a trade war sparked by President Donald Trump's sweeping tariff roll-out and further fueled by Beijing's strong retaliation.

US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer conferred with China's Vice-Premier He Lifeng in the first such talks between the world's two largest economies since Mr. Trump slapped steep new tariffs on China in April.

The closed-door discussions began at mid-morning on May 10 and were due to continue on May 11 at the residence of the Swiss ambassador to the United Nations in Geneva.

And after a break at around lunchtime, the delegations returned to the discreet villa with sky-blue shutters near a large park on the left bank of Lake Geneva, according to AFP journalists on site.

Tariffs imposed by Mr. Trump on the Asian manufacturing giant since the start of 2025 currently total 145 per cent, with cumulative duties on some goods reaching a staggering 245 per cent.

In retaliation, China slapped 125 per cent tariffs on US goods, cementing what is effectively a trade embargo between the world's two largest economies.

Mr. Trump signaled on May 9 that he could lower the sky-high tariffs on Chinese imports, taking to social media to suggest that an "80 per cent Tariff on China seems right!"

"The President would like to work it out with China...He would like to de-escalate the situation," US Commerce Secretary Howard Lutnick told Fox News on May 9.

Mr. Trump's press secretary Karoline Leavitt clarified that the US would not lower tariffs unilaterally, adding that China would need to make concessions as well.

In any case, a move to 80 per cent tariffs, while a big drop from the current 145 per cent, would be a symbolic gesture and would still most likely shut off most trade between the countries.