China's trade envoy He Lifeng has entered talks with US Treasury Secretary Scott Bessent in Switzerland to mitigate a high-stakes trade conflict. This pivotal meeting is the first since the US imposed a 145 percent tariff on Chinese goods, met with a retaliatory 125 percent tariff from China. Both sides seek to negotiate potential de-escalation measures, with expectations for a 90-day waiver and tariff reductions. Experts indicate that simultaneous tariff rollback may signal positive diplomatic progress amidst ongoing global market uncertainties.
"Experts believe China may be looking for the same 90-day waiver as well as a reduction of the 145 percent tariff Trump suggested that it could be reduced to 80 percent."
"A diplomatic source, speaking to AP on condition of anonymity because of the sensitivity of the meeting, said the sides met for about two hours before departing for a previously arranged luncheon."
"Bessent has said the meetings in Switzerland would focus on de-escalation. The best scenario is for the two sides to agree to de-escalate on the tariffs at the same time."
Collection
[
|
...
]