Top US officials, including Treasury Secretary Scott Bessent and trade negotiator Jamieson Greer, will meet Chinese Vice Premier He Lifeng in Geneva this weekend for the first senior-level talks aimed at easing a worsening trade war that has disrupted global markets and threatened growth. The meeting, confirmed by both sides, triggered gains in US, Chinese, and Hong Kong markets amid hopes of de-escalation. The talks follow a sharp escalation in tariffs, with Washington imposing duties as high as 145 per cent on Chinese goods, and Beijing retaliating with 125 per cent levies on US imports. The conflict has rattled supply chains, clouded growth prospects, and spurred central banks to respond with stimulus—China's central bank on Wednesday announced new liquidity measures to offset trade-related economic strain. Sources familiar with the planned agenda said the negotiations will cover broader tariff reductions, product-specific duties, export controls, and the recent removal of de minimis exemptions on low-value imports. Bessent said the priority is to "de-escalate before we can move forward," while China's commerce ministry signalled a willingness to re-engage, citing pressure from industry and global stakeholders. Still, doubts remain about the scope of progress. Analysts warn that significant breakthroughs may hinge on whether both sides can agree on the scale of tariff rollbacks. The US continues to engage with other major trade partners, with 17 separate negotiations underway, according to Bessent. President Trump has indicated that multiple new deals could be finalised within weeks. The talks in neutral Switzerland mark the first high-level US-China engagement since March and come as the global trade architecture faces its deepest turmoil in decades. Attribution: Reuters Subediting: M. S. Salama
