Geneva, 10 May 2025 (dpa/MIA) - US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer are meeting with Chinese Vice Premier He Lifeng in Switzerland on Saturday in the first talks between the two powers amid a trade war that has caused widespread uncertainty.

The talks in Geneva will be closely watched amid a trade war triggered by US President Donald Trump who imposed blanket tariffs of at least 10% on all imports to the country, plus additional levies for a host of trading partners, unleashing significant turbulence in the stock and financial markets.

While he suspended many of the planned tariffs to allow for trade negotiations, special tariffs of up to 145% remain in place on Chinese goods and Beijing retaliated with tariffs of up to 125% on US products.

The talks in Geneva are the first movement by the two sides, which so far have merely sought to imply they are in the stronger position.

But there are indications that Washington may be prepared to lower the tariffs. "80% Tariff on China seems right! Up to Scott B," Trump wrote on his social media platform Truth Social on Friday.

MIA file photo