US, China set for ice-breaker trade talks in Geneva on May 10

US Treasury Secretary Scott Bessent and trade negotiator Jamieson Greer will meet China’s economic leader He Lifeng in Geneva, Switzerland, On Saturday, May 10, 2025, for high-stakes talks aimed at de-escalating a trade war that has disrupted global markets.

The announcement of the meeting, made by Washington on Tuesday, boosted US equity futures and lifted stock markets in China and Hong Kong during Wednesday’s Asian trading session.

The talks follow months of intensifying trade disputes, with tariffs on US-China goods imports exceeding 100 percent, described by Bessent as a virtual “trade embargo.”

These measures, compounded by US President Donald Trump’s recent imposition of broad duties on numerous countries, have disrupted supply chains, unsettled financial markets, and raised fears of a global economic downturn.

In neutral Switzerland, the negotiators are expected to explore tariff reductions, discuss duties on specific products, and address export controls.

The talks may also cover Trump’s decision to eliminate de minimis exemptions for low-value imports, according to sources familiar with the agenda.

While a breakthrough is not guaranteed, the meeting marks a critical step toward stabilizing the world’s two largest economies and mitigating the broader impact on global trade.