US and China to Discuss Tariff De-escalation in Geneva This Weekend

The United States and China are set to engage in trade talks this weekend in Geneva, Switzerland, marking the first significant dialogue since President Donald Trump imposed sweeping tariffs that have disrupted global markets. The meeting, scheduled for Saturday and Sunday, will involve U.S. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer meeting with Chinese Vice Premier He Lifeng. The announcement of these talks has led to a positive reaction in the stock markets, with U.S. stock futures rising. The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite futures saw gains of 0.1% following the news. This comes amid ongoing concerns about the impact of Trump's 145% tariffs on Chinese goods and China's retaliatory 125% tariffs on U.S. goods. China has emphasized that any negotiations must be based on equality, respect, and mutual benefit. The Chinese Foreign Ministry, through spokesman Lin Jian, has stated that the talks are at the request of the United States and reiterated its opposition to the U.S. tariffs. Beijing has also made it clear that it will not compromise its principles for an agreement and will safeguard its interests during the discussions. Bessent told Fox News that the focus of the talks will be on de-escalation rather than a comprehensive trade deal.