Geneva Talks: A New Chapter in U.S.-China Trade Relations

Chinese Vice Premier He Lipeng and U.S. Treasury Secretary Scott Bessent commenced discussions in Geneva to mitigate the escalating trade war impacting the global economy. The talks aim to address high tariffs and trade imbalances and could pave the way for further negotiations.

In a bid to ease the escalating trade tensions between their nations, Chinese Vice Premier He Lipeng and U.S. Treasury Secretary Scott Bessent began talks in Geneva on Saturday. The discussions mark a tentative step toward addressing the trade war's significant impact on the global economy.

As duties on goods imports have skyrocketed, many feel it could lead to a sharp global economic downturn. Both delegations were seen leaving the Swiss ambassador's residence in Cologny, indicating the talks were underway.

The focus remains on reducing the U.S. trade deficit and convincing China to adopt a more global consumption-oriented economic model. Analysts, however, maintain low expectations for a swift breakthrough.

(With inputs from agencies.)