China, US enter day 2 of trade talks to ease tariff tensions

Top Chinese and US trade officials held high-stakes talks over the weekend on easing a trade war that has disrupted global supply chains and triggered concerns over a prolonged economic downturn, as the world watched intently for the outcome.

Chinese Vice-Premier He Lifeng, US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer resumed negotiations in the Swiss city of Geneva shortly after 10am local time on Sunday, according to Agence France-Presse.

This followed eight hours of talks in a closed-door meeting on Saturday – the first high-level exchange between the world’s two largest economies amid an unprecedented trade war in which both sides have raised import tariffs to well over 100 per cent.

Chinese state media CGTN also confirmed earlier that the trade talks were continuing on Sunday.

However, no agreement had been announced as of Sunday night Beijing time.

There was no official statement from either side after the first day of talks.

Earlier, as the top negotiators entered the second day of trade talks in the Swiss city of Geneva, Chinese state media stated: “compromise will not win respect”.

In a commentary published on Saturday, China’s state news agency Xinhua said the discussions in Switzerland were an important step towards resolving trade tensions. It added that a settlement would require patience and determination, as well as support from a just and principled international community.

“Appeasement does not bring peace, and compromise will not win respect. The right way to safeguard one’s own interests is to uphold principled positions and stand firm on fairness and justice,” the commentary stated, noting that China had observed some other economies were also engaging in negotiations with the US.

It said that China’s positions and actions aimed not only to safeguard its legitimate right to development, but also to uphold the common interests of the international community – including developing and smaller countries – and to defend international fairness and justice.

Before the meeting in Geneva, China had urged the US to show goodwill and be prepared to remove the tariffs, saying the talks had been scheduled after repeated US overtures through “multiple channels”.

(Xinhua,CGTN & SC Morning Post)