Trade talks between China and the United States have begun in Geneva.
May 10, 2025112 ViewsRead Time: 2 minutes
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Chinese Vice Premier Liu He began talks with U.S. Treasury Secretary Steven Mnuchin in Geneva on Saturday, in a first step towards defusing a trade war that has disrupted the global economy.
Mnuchin's meeting with Liu in Geneva comes after weeks of escalating tensions that led to a significant increase in import tariffs between the world's two largest economies, exceeding 100%.
The trade dispute, along with U.S. President Donald Trump's decision last month to impose tariffs on dozens of other countries, has disrupted supply chains, destabilized financial markets, and fueled fears of a sharp global economic slowdown.
The location of the talks in Geneva, the Swiss diplomatic center, was not disclosed, but witnesses saw the Chinese and U.S. delegations leaving the residence of the Swiss ambassador to the United Nations in the upscale suburb of Coligny around lunchtime.
Washington aims to reduce the trade deficit with Beijing and persuade China to abandon what the United States says is an economic model that relies heavily on increasing exports compared to imports and contributing more to global consumption, a shift that requires sensitive political reforms.
Beijing has resisted what it views as external interference. Washington demands tariff reductions, clarification on what China wants to buy more of, and its treatment as an equal player on the global stage.
Mnuchin's meeting with Liu in Geneva comes after weeks of escalating tensions that led to a significant increase in import tariffs between the world's two largest economies, exceeding 100%.
The trade dispute, along with U.S. President Donald Trump's decision last month to impose tariffs on dozens of other countries, has disrupted supply chains, destabilized financial markets, and fueled fears of a sharp global economic slowdown.
The location of the talks in Geneva, the Swiss diplomatic center, was not disclosed, but witnesses saw the Chinese and U.S. delegations leaving the residence of the Swiss ambassador to the United Nations in the upscale suburb of Coligny around lunchtime.
Washington aims to reduce the trade deficit with Beijing and persuade China to abandon what the United States says is an economic model that relies heavily on increasing exports compared to imports and contributing more to global consumption, a shift that requires sensitive political reforms.
Beijing has resisted what it views as external interference. Washington demands tariff reductions, clarification on what China wants to buy more of, and its treatment as an equal player on the global stage.
