The United States and China began high-level talks on Saturday in Switzerland to de-escalate trade tensions, according to Chinese media, in the first known in-person contact between the world's two largest economies since President Donald Trump placed steep tariffs on imports earlier this year.
The negotiations in Geneva were joined by U.S. Treasury Secretary Scott Bessent, U.S. Trade Representative Jamieson Greer and Chinese Vice Premier He Lifeng, who oversees economic matters.
Since Trump returned to the White House in January for a nonconsecutive second term, he has imposed extra tariffs on Chinese imports, leading Beijing to take countermeasures in a tit-for-tat tariff war.
China now faces at least 145 percent tariffs on all of its exports to the United States, while Beijing has raised its retaliatory duties on all American goods to 125 percent.
Trump signaled Friday that the United States could lower the tariff rate against China, saying on social media, "80% tariff on China seems right!"
A day earlier, he said of the rate, "It's at 145, so we know it's coming down."
The Chinese Commerce Ministry has urged the United States to show sincerity in the upcoming talks and lift the unilateral tariffs, saying Beijing will not sacrifice its principles or its commitment to international fairness and justice.
Reflecting the hefty tariffs, Chinese exports to the United States in April plunged 21 percent from a year earlier, while Beijing saw imports from the country drop 13.8 percent in the same month, Chinese customs data showed Friday.
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