Chinese Vice Premier He Lifeng (left) Switzerland's Economy Minister Federal Councillor Guy Parmelin (centre), Switzerland's President Karin Keller-Sutter (right) speaking during the bilateral meeting etween Switzerland and China, in Geneva, Switzerland, on May 9, 2025. - AP
WASHINGTON: Senior US and Chinese negotiators spent hours behind closed doors in Switzerland on Saturday (May 10) as they held high-stakes talks that offer the clearest opportunity yet for the two countries to de-escalate their trade war, with President Donald Trump calling it a "very good” meeting.
US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng are leading the negotiations expected to span two days in Geneva, marking the first publicised, in-person talks since President Donald Trump imposed 145% levies on China and Beijing retaliated with 125% tariffs on many American goods and new export controls on rare earth minerals.
