US, China look to ease trade war

GENEVA TALKS FOCUS ON 'DE-ESCALATION'

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Senior US and Chinese officials are in Switzerland this weekend for talks aimed at de-escalating a burgeoning trade war sparked by President Donald Trump's sweeping tariff rollout, and fuelled by strong retaliatory measures from Beijing.

US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer were set to confer with China's Vice Premier He Lifeng in the Swiss city of Geneva yesterday and today — the first such talks between the two sides since Mr Trump slapped steep new levies on China last month.

Tariffs imposed on the Asian manufacturing giant since the start of the year currently total 145%, with cumulative duties on some goods reaching a staggering 245%. In retaliation, China slapped 125% levies on US goods, cementing what is effectively a trade embargo between the world's two largest economies.

Mr Trump signalled on Friday that he could lower the sky-high tariffs on Chinese imports, taking to social media to suggest that an "80% Tariff on China seems right!" His press secretary Karoline Leavitt later clarified he would not do so unilaterally, adding that China would also need to make concessions.