Trade talks between the US and China held in Geneva concluded with positive signals, while no concrete agreements were reached.
Outcomes of Trade Talks
The talks took place over the weekend between Chinese Vice Premier He Lifeng and senior US officials, including Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer. According to Bessent, "we have made significant progress in our trade talks with China." Greer added that "the differences are not as great as we previously thought."
Positions of the Parties
The Chinese side has made it clear that it will not make concessions during the negotiation process. State media CGTN confirmed that the talks were ongoing, while the Xinhua news agency published a commentary stating that "concessions do not bring respect." They noted that a solution could be found with the support of a fair and determined international community.
Economic Consequences
Ahead of the talks, China argued that the US should show good faith in lifting tariffs. However, US President Donald Trump rejected those claims, although he hinted that tariffs on China could be lowered if the talks go well. Trump raised import tariffs on China to 145%, and Beijing responded by imposing 125% tariffs on US products.
The negotiations between the US and China are ongoing, and while progress has been made, no concrete agreements have been reached yet, leading to serious economic repercussions for both nations.
