U.S. and China conclude first day of talks in bid to ease trade war

U.S. Treasury Secretary Scott Bessent takes questions at the White House on April 29. Bessent, a former hedge fund manager, is leading trade talks with China in Geneva. | PETE MAROVICH photo

BLOOMBERG
May 11, 2025

Senior U.S. and Chinese negotiators spent hours behind closed doors in Switzerland on Saturday as they held high-stakes talks that offer the clearest opportunity yet for the two countries to deescalate their trade war.

U.S. Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng are leading the negotiations expected to span two days in Geneva, marking the first publicized, 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.

U.S. trade chief Jamieson Greer is also participating in the sessions.