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On Saturday, the seniors and Chinese negotiators spent hours at the closed door in Switzerland, organizing interviews with high bets that offer the brightest opportunity for both countries to de-eskaling their trade war, while President Donald Trump called it a “very good” meeting.
The US Minister of Finance Scott Bessnt and the Chinese vice -president who leads Lifengen leads negotiations that are expected to take two days in Geneva, which means the first published, personal interviews because President Donald Trump deposited 145% of fees and Beijing with retaliation of 125% of tariffs and new export checks for precious earth minerals.
“Very good meetings today with China in Switzerland,” Trump said in a contribution to Truth Social. “Many things discussed with which they agreed a lot. The overall resetting negotiated in a friendly but constructive way. We want to see, for the good of China and the US, the opening of China to American business. Great progress has made !!!”
At the meetings, the Chief of the American Trade Jamieson Greer also participates. The discussions that took place in the Swiss mission of the United Nations in Geneva ended up at night and are expected to continue on Sunday, according to a person who is familiar with things that demanded anonymity to discuss sensitive interviews.
Both sides tried to project the confidence that it was holding on top, but the status quo carries the main risks.
Tit-for -at spewed the financial markets and at the same time threatened the lack of product and higher prices for American consumers, increases the pressure on Trump to find the way out of his distance with Xi Jinping. The Chinese leader tried to strengthen the economy of his nation from conversations, but the data show signs of weakness.
Meeting in Switzerland is “an important step in pushing to solve the problem, while a possible solution will require sufficient patience and determination as well as the support of the international community, the official agency Xinhua said in comments published on Saturday while interviews.
The US President sent mixed signals about his desired result at meetings. Trump has repeatedly stated that he is not willing to reduce tariffs without Chinese concessions, although on Friday he applied on Friday that 80% of the fees “appears to be fine”.
“We have to do a lot for America,” Trump told reporters in an oval office late on Friday. “I think we will return with a fair shop for China and for us.”
On Wednesday, Bessnt downplayed any potential outcome and said that interviews for legislators were at an early stage and focused on reducing tensions rather than on the achievement of a comprehensive agreement. But Trump himself said on Thursday that he was expecting “material” progress. Other American officials emphasized the opportunity to dispose of the conflict.
Trade Minister Howard Lutnick said in Fox News on Friday evening that “there is no chance” that tariffs will be completely suspended, regardless of the outcome of the weekend interviews. If these negotiations go well, he added that women “descend to the human level. To the level where we do business. There are significant tariffs, the president will maintain significant tariffs for trade in China. This is his goal. This is his expectations. This should be everyone’s expectations.”
China approaches the guarded approach and sets expectations before negotiations and considers them research than it is likely that it will bring an immediate large trade. Representatives of XI will measure how serious their American counterparts are in the search for breakthrough, said Wu Xinbo, director of the US Study Center Fudan University in Shanghai University and advisor to Foreign Minister.
Both economies, with a combined gross domestic product of $ 46 trillion, have a lot to lose if interviews fit. According to Bloomberg Economics estimates at the current level at the current level, 90% of bilateral trade smoothes.
The fall in the commercial struggle has already appeared, which represents more economic pain to avoid agreement.
The transport volume from China to the US has failed. And in China, factories that produce daily consumer items, have slowed or chose assembly lines. A two -way trade between the two countries is around $ 700 billion and China has a $ 1.4 trillion portfolio in the US.
The conflict caused Beijing to expand trade with other markets, with exports to the US by 21%. Business data published on Friday show consignments from China to the European Union and last month increased by 8%.
Meanwhile, the Chinese domestic economy is plagued by non -compliant production data and the deflationary spiral is unlikely to improve because competition on the domestic market intensifies in the middle of the weak labor market.
While the US economy continues to hold, analysts warn that the lack of goods will emerge in the form of empty shelves in the coming weeks and months, threatening jobs, especially freight, logistics and retail work. The federal reserve system warned against increasing uncertainty. At the beginning of the year, the US economy closed for the first time since 2022, although the measurement of basic demand remained solid.
The consequences of a US -conducted trade struggle are ricocheating around the world. This year, the World Trade Organization has reduced its prognosis for trade in goods and now expects the volume to drop by 0.2% – almost 3 percentage points lower than it would be without a trade war. The International Monetary Fund in April in April sharply reduced its growth expectations this year and more, the outlook warning can further deteriorate.
QUICKTAKE: What to know about the US and China trade war as interviews started
For Trump, the highest goal is to re -balance the trade, while the president repeats on Friday that Beijing wants to open his US markets. Trump has also repeatedly indicated that it perceives access to the US market as a key leverage to enforce concessions.
“They have a lot to get from interviews, Trump told reporters on Thursday. “They have much more in a sense than we do.”
However, China considers tariffs to be one aspect of the wider step of the US to limit its increase. For Beijing, the conflict is not only a trade war, said Regina IP, Hong Kong legislator and cabinet organizer John Lee. It threatens its survival itself, she said.
“China is determined to take it on his chin -” NEKEEL ” – they take a very hard line,” she said. However, she warned: “Both sides must play their cards very carefully. Every movement must do very carefully to not study.”
Even a week before the conversations with Washington and Beijing traded the spines over who started them.
One US priority aimed at negotiations was to ensure the release of Chinese export limitations on rare countries used to produce magnets used in everything from robots to jet engines.
Trump’s administration also wants China to limit trading with Fentanyl suppressing the flow of precursors used to produce opioid. However, ongoing progress on this issue can be reached on a separate track outside Geneva’s interviews.
China said it was forcibly intervened on a fentanyl trade and even stated that Washington owes his efforts to a “big thank you” for his efforts.
With the help of Colum Murphy, Rebecca Choong Wilkins, Daniel Flatley and Shiyin Chen.
This article was generated from an automated news agency without text modifications.
(Tagstotranslate) US-CHNIA TRAVEL WAR (T) Global trade
