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Coinpaprika 2025-05-07 08:14:35

US-China Begin Trade Talks to Cool Down Tariff Tensions

The US and China are taking a cautious first step toward easing trade tensions, with high-level talks set to begin in Geneva this weekend. US Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer will meet with China's Vice-Premier He Lifeng , marking the first formal discussions since the trade war began under President Trump. Bessent clarified the talks aim to de-escalate tensions , not hammer out a full trade agreement. The dialogue follows a damaging period of tit-for-tat tariffs, including 145% US tariffs on Chinese goods and 125% Chinese tariffs on American products . Both sides have softened their stance slightly. Beijing agreed to talks after the US hinted at possible tariff relief, though China warned against any "coercion." Meanwhile, experts stress that expectations should remain low, as a broader resolution may take months and possibly require direct talks between Trump and Xi Jinping. Key issues like fentanyl exports and further US tariffs remain unresolved. Trust also looms large, with some Chinese analysts questioning whether the US will stay committed to any agreement. At the same time, financial markets are watching closely. Bitcoin, often seen as a hedge during global uncertainty, is trading at $96,958.84 , showing a 2.76% gain in the last 24 hours.

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