Reuters: US - China are meeting in Geneva, taking the first exploratory steps

A car carrying US Treasury Secretary Scott Bessent leaves the venue of trade negotiations between the Chinese and US delegations in Geneva, Switzerland on May 10 - Photo: REUTERS

The meeting marked the first tentative step toward cooling the trade war that is roiling the global economy .

Xinhua also confirmed that "China and the United States have started high-level meetings on economic and trade issues in Geneva."

Mr. Ha and Mr. Bessent met in Geneva after weeks of rising tensions as tariffs imposed by the United States and China on each other's goods have both exceeded 100%.

The US-China trade war, along with US President Donald Trump imposing high tariffs on dozens of other countries, has disrupted supply chains, roiled financial markets and fueled fears of a severe global recession.

The location of the talks at the Swiss diplomatic center was not made public, but witnesses saw both delegations leaving the residence of the Swiss ambassador to the United Nations, located in the leafy suburb of Cologny, around lunchtime.

More than two hours earlier, US officials, including Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer, were all smiles as they left the hotel for the talks. Mr. Bessent declined to speak to the press.

At the same time, Mercedes vans left the hotel where the Chinese delegation was staying on the shores of Lake Geneva, while runners were warming up in the sun for a marathon.

According to Reuters, Washington is looking to reduce its trade deficit with Beijing and persuade China to abandon its mercantilist economic model and contribute more to global consumption - a shift that requires China to carry out many domestic reforms.

For its part, Beijing opposes what it calls outside interference. China wants Washington to reduce tariffs, clarify what products the US wants China to buy more of, and treat China equally on the international stage.

Amid growing suspicion, both sides are careful to avoid showing weakness. Economic analysts do not expect much of a breakthrough.

On May 9, US President Donald Trump said an 80% tariff on Chinese goods "seems reasonable", the first time giving such a specific figure to replace the 145% tariff he is imposing on imports from China.

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Source: https://tuoitre.vn/reuters-my-trung-quoc-dang-gap-o-geneva-co-buoc-di-tham-do-dau-tien-20250510183310789.htm