China Views Trade Talks with the US as a ‘Significant Step’

China considers the initial trade talks with the US, which commenced in Switzerland following the onset of the ‘trade war’ initiated by former President Donald Trump, to be a ‘significant step’. Evidence of the importance both the US and China attach to this issue, which sparked a ‘trade war’, is demonstrated by their dispatching high-level delegations to Switzerland for negotiations: US Treasury Secretary Scott Bessent, US Trade Representative James Grier, and Chinese Vice Premier He Lifeng. According to a statement released by the official Xinhua News Agency, the contact made in Switzerland represents a significant move toward resolving the contentious issue, without providing further details on the progress of the talks. Bessent and the American delegation have not issued any comments. Discussions began in the morning and continued at least until 6 PM (Greek time), with plans to resume on Sunday. On Friday, Trump appeared to make a goodwill gesture towards Beijing, hinting that he might reduce tariffs imposed on Chinese goods from 145% to 80%. In response to Trump’s tariffs, Beijing, which had warned it would ‘fight to the end’, retaliated by imposing its own tariffs of 125% on American products. As a result, bilateral trade effectively halted, causing significant market turmoil.