U.S. and China to Hold High-Stakes Trade Talks This Weekend Amid Escalating Tariff War

Top U.S. and Chinese officials are set to meet in Geneva this weekend for their first major face-to-face trade talks since President Trump reignited a full-blown tariff war last month. The talks will bring Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer together with China’s vice premier, in what many are calling a critical moment for two of the world’s largest economies.

Since Trump’s April 2 announcement of sweeping “Liberation Day” tariffs, tensions have soared. U.S. tariffs on Chinese goods have surged to 145%, with China responding at 125%. The pressure is already being felt—U.S. companies are pulling back orders, and inflation is creeping higher for consumers. Both sides are now facing calls from businesses and economists to find a way out of a standoff that some say is starting to feel like an economic cold war.

While expectations for a breakthrough remain low, the fact that both countries are coming to the table is seen as a step forward. As one former U.S. trade official put it, this is more about damage control than quick deals. But with supply chains strained and recession fears mounting, these talks could be the first real shot at dialing things down before the fallout gets worse.