US and China hold 10-hour closed-door trade talks at Swiss villa
US treasury secretary Scott Bessent and trade representative Jamieson Greer met with Chinese vice premier He Lifeng in a closed-door session at Villa Saladin, an 18th-century mansion owned by the Swiss government.Officials from both sides confirmed that talks lasted more than ten hours.
Trump accuses media outlet of campaigning for Democrats after tariff segment
US president Donald Trump lashed out at MSNBC on Friday after watching a segment that questioned the effectiveness of his global tariff plan. Trump accused the network of committing a “major campaign violation” and acting as a mouthpiece for the Democratic Party.The outburst, shared on his Truth Social account, targeted host Stephanie Ruhle and threatened financial scrutiny for MSNBC’s parent company, Comcast.Trump called Ruhle “highly neurotic” and claimed she was spreading “lies” about tariffs. Ruhle, NBC’s senior business analyst, had said that Trump may soon walk back the tariffs due to growing signs of economic trouble.Trump further accused MSNBC of being a political tool of the Democratic Party and suggested that it should face tax penalties. He also aimed at Comcast CEO Brian Roberts, saying the media group should be “forced to tell the truth.”
US-China trade talks yield no breakthrough, to resume Sunday
United States and China engaged in direct trade negotiations in Geneva, aiming to de-escalate tensions marked by significant tariff increases. US treasury secretary Scott Bessent and trade representative Jamieson Greer met with Chinese vice premier He Lifeng. Despite lengthy discussions, no immediate breakthroughs were achieved.
China-US trade talks begin in Geneva, says Beijing state media
Top economic officials from China and the United States commenced high-level negotiations in Geneva, Switzerland, on Saturday, according to Chinese state media. This marks the first formal round of talks between the two nations since former President Donald Trump introduced broad tariffs, escalating trade tensions between the world’s two largest economies.
“On the morning of the 10th local time, the China-US high-level economic and trade talks began in Geneva, Switzerland,” state broadcaster CCTV reported.
China’s consumption slide deepens as tariff war bites
China said Saturday that consumer prices slumped in April for the third straight month, reflecting persistent challenges as leaders attempt to revive an economy stymied by sluggish spending and a fierce trade war with Washington.
The world’s second-largest economy has grappled with persistent deflationary pressure in recent years, as longstanding woes in the property sector and export headwinds impede growth.
The latest figures come ahead of Saturday’s start to a meeting of key economic officials from China and the United States in Switzerland, offering a potential off-ramp for the high-stakes trade war launched by President Donald Trump.
US tariffs on imports from manufacturing powerhouse China now stand at a staggering 145 percent for many products — and reach as high as 245 percent cumulatively on others.
Trump suggested Friday that the tariffs could be cut to 80 percent, though Beijing has demanded a complete cancellation of the levies that are compounding other challenges facing the Chinese economy.
US and Chinese officials meet to discuss tariffs
Senior US and Chinese officials are set to meet in Switzerland this weekend in a fresh attempt to ease a growing trade dispute that threatens to sever economic ties between the world’s two largest economies and unsettle global markets.
US treasury secretary Scott Bessent and trade representative Jamieson Greer will sit down with a Chinese delegation led by Vice Premier He Lifeng in Geneva, as both sides look for ways to dial down a damaging tariff war.
While hopes for a major breakthrough remain slim, officials are aiming to reduce the steep tariffs that have been imposed in recent weeks. Any progress could offer much-needed relief to global financial markets and to businesses that rely on cross-Pacific trade.
Tensions escalated sharply last month when U.S. President Donald Trump raised tariffs on Chinese imports to a combined 145%. China hit back with its own tariffs, levying a 125% duty on American goods. The tit-for-tat measures have pushed tariffs to levels that make trading nearly impossible, essentially turning two major trading partners into economic adversaries.
Last year, trade between the U.S. and China was worth over $660 billion. Now, with that relationship under strain, the world is watching closely to see whether this weekend’s talks can begin to mend the rift.
WTO chief calls US-China trade talks ‘positive’ step
WTO Director-General Ngozi Okonjo-Iweala has described the upcoming trade talks between US and Chinese officials as a “positive” move toward easing ongoing trade tensions. The scheduled meeting in Geneva, involving US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng, aims to address the trade disputes between the world’s largest economies.
A WTO spokesperson stressed that “sustained dialogue between the world’s two largest economies is critical to easing trade tensions.” These talks represent the most significant diplomatic engagement between Washington and Beijing since President Donald Trump imposed trade restrictions upon his return to office. Both nations have since implemented reciprocal tariff hikes on each other’s goods, creating economic instability not only within their own markets but also across the global economy.
Donald Trump hints at cutting tariffs on China ahead for key meet
https://truthsocial.com/@realDonaldTrump/114477628854583525
Trump considers reducing China tariffs to 80%
US President Donald Trump has suggested cutting tariffs on Chinese imports to 80% ahead of a weekend meeting, indicating a potential shift in the ongoing trade war. “80% Tariff on China seems right! Up to Scott B,” Trump posted on Truth Social, referring to Treasury Secretary Scott Bessent, one of the US officials set to meet with Chinese counterparts in Switzerland.
How the end of a tariff loophole could leave online shoppers exposed to price hikes
A tariff loophole that once allowed inexpensive Chinese goods to enter the United States duty-free was eliminated last week, with potential immediate consequences for online shoppers. Items like T-shirts, stationery, and other low-cost products on e-commerce sites could see sharp price increases as shipping carriers and sellers adjust for new import taxes. Additionally, delays in deliveries are likely as customs processing becomes more intensive.
The change comes as part of President Donald Trump’s aggressive trade policies, particularly targeting China. The “de minimis” exemption, which allowed packages worth up to $800 to enter the US without tariffs, has been removed. While this exemption still applies to packages from countries other than China or Hong Kong, it no longer applies to Chinese imports.
The rationale behind the exemption had been that small import taxes were not worth collecting. However, as the value of exempted packages grew, so did the volume of such shipments. In 2023, customs data shows that over 1.3 billion de minimis shipments entered the US, equating to around 40 packages per second. The vast majority of these were from China.
Now, with the loophole closed, consumers may face higher costs and delays as shipping carriers bear the brunt of new tariffs.
US may slash 145% China tariff to around 50% ahead of key trade talks: Report
The Trump administration is reportedly considering cutting the 145% tariff on Chinese imports by more than half, possibly as early as next week. According to The New York Post, which cited sources close to the negotiations, US officials are discussing reducing the tariff to between 50% and 54%. The potential move comes as American and Chinese officials prepare for high-level trade talks in Switzerland, aimed at easing ongoing tensions.
