US and Chinese officials start Geneva talks on easing trade war

Switzerland's Economy Minister Federal Councillor Guy Parmelin (left) shakes hands with Chinese Vice Premier He Lifeng next to Switzerland's President Karin Keller-Sutter (centre), during a bilateral meeting between Switzerland and China, in Geneva, Switzerland, on Friday, May 9, 2025. -- Martial Trezzini/Keystone via AP, Pool

GENEVA (Reuters): Chinese Vice Premier He Lifeng began talks with US Treasury Secretary Scott Bessent early on Saturday in Geneva in a tentative first step towards defusing a trade war that is disrupting the global economy.

Bessent and He were meeting in Geneva after weeks of growing tensions in which duties on goods imports between the world's two largest economies have soared far beyond 100%.