US and China seek to de-escalate trade war

Top officials from the United States and China met in Geneva on Saturday, aiming to cool a trade war ignited by President Donald Trump's broad tariff hike and stoked by Beijing's fierce retaliation.

The talks are the first high-level meeting for Beijing and Washington since Trump's steep new levies hit China last month.

What do we know about the meeting?

US Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer sat down for talks with Chinese Vice Premier He Lifeng.

Bessent, Greer, and about a dozen US delegates swept through the lobby of Geneva’s upscale Intercontinental Hotel, brushing off reporters’ questions before slipping into waiting cars and speeding away.

The Chinese team depared from the President Wilson Hotel, flanked by heavy police escorts as both convoys wove through the city, halting traffic along the route.

Chinese state media confirmed by late morning that the talks had officially begun. While the exact venue was kept under wraps, AFP tracked the delegations to a discreet location across town.

Reduction in tariffs unlikely

While a major breakthrough looks unlikely, hopes remain that the two sides will ease the punishing tariffs they have slapped on each other.

Such a move would soothe troubled global markets and reassure companies reliant on US-China trade.

Last month, Trump hiked US tariffs on Chinese goods to 145%, prompting Beijing to hit back with a 125% levy on US imports.

The sky-high duties have effectively shut down trade between the two economic giants, disrupting flows that topped $660 billion (about €590 billion) last year.

Even before talks kicked off, the US president hinted Friday that the US might ease tariffs on China.

Edited by: Louis Oelofse