The new China News Agency (Xinhua) reported that Lee Feng, Vice -President of the State Council, had talks with US Treasury Secretary Scott Bessent in Geneva today, Saturday.
A source familiar with the talks confirmed to Reuters that she was ongoing.
The talks between the two sides finally come after weeks that witnessed an upward tension that led to a significant increase in customs duties on imports between the two largest economies in the world, which exceeded 100%.
On Friday, US President Donald Trump announced the ability to reduce customs duties on China from 145% to 80%.
“It seems that the imposition of customs duties by 80% on China is the right level!”
Trump did not mention in his post if he believed that 80% should be the final level of fees on Chinese goods if the trade war stops, or it is just a temporary situation.
The New York Post reported yesterday, Thursday, that Trump is considering a 145% customs duties on Chinese imports in more than half next week.
Official data showed on Friday that China’s exports to the United States fell by 17.6% last month compared to the previous month.
The total value of Chinese exports to the United States amounted to $ 33 billion last April, compared to $ 40.1 billion in March 2025, according to data from the General Administration of Chinese Customs.
Trade between the two largest economies in the world has decreased since Trump imposed customs tariffs – and some cumulative fees have reached 245% – while China responded by imposing 125% fees in addition to other measures.
