China, US hold talks on tariffs in first bid to de-escalate trade war

China’s trade envoy He Lifeng has met United States Treasury Secretary Scott Bessent in Switzerland for talks aimed at easing a trade war between the superpowers that is roiling global markets.

The first official engagement, since the US slapped a 145 percent tariff on Chinese goods, prompting a retaliatory 125 percent duty from China, began on Saturday at an undisclosed location in Geneva, Switzerland, according to the Chinese state news agency Xinhua.

A motorcade of black cars and vans was seen leaving the home of the Swiss ambassador to the United Nations in the suburb of Cologny, The Associated Press news agency reported.

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