Diplomatic negotiations regarding bilateral trade between the United States and China commence in Geneva.
Hangin' with the Big Dogs: US-China Trade Talks Kick Off
YO, IT'S SCOTT SIMON, AND WE GOT SOME NEWS ABOUT THOSE TENSIONS BETWEEN THE US AND CHINA. Remember when President Trump threw the 145% tariff bomb on Chinese goods? Yeah, that got 'em sitin' down for talks in Geneva, baby!
WILLEM MARX HERE. Now, this ain't no one-night stand, folks. These talks could be the start of a long relationship, and nobody's talking about a wedding just yet.
With the UK stumbling on a tiny deal with Trump, 10% tariffs still standin' tall on British exports. Treasury Secretary Scott Bessent spilled the beans on numerous nations hoppin' on the trade train with the US, but ol' Beijing remained a holdout. What changed? Turns out, a fortuitous schedulin' conflict led Bessent and U.S. trade rep Jamieson Greer to be in Switzerland on the same day as the Chinese. And voilà! Talks began!
(SOUNDBITE OF ARCHIVED RECORDING)
SCOTT BESSENT: We agreed to talk. On Saturday and Sunday, we'll decide what we're gonna talk about. My gut feelin' is that it'll be about de-escalation, not the big deal. But we gotta step back before we can move forward.
MARX: Bessent touched base with Swiss President Karin Keller-Sutter, who said Switzerland's centuries-old rep as a peacemaker played a part in the conversahsions. Fingers crossed the Holy Spirit from Rome dropped by to help 'em out!
PRESIDENT KARIN KELLER-SUTTER: Switzerland offers those good services, and these talks show that Switzerland, as a neutral country, is valued. We hope this platform we can offer will lead to a result because it's good for the world economy.
MARX: Trump wants China to end their currency manipulation schemes and cut subsidies for industries that give US firms a run for their money. Former Australian diplomat Dmitry Grozoubinski reckons this trade tussle might end up like the last one—with Trump claiming a victory.
DMITRY GROZOUBINSKI: Trump's happy to announce a huge number, declare it a triumph. He'll probably be up for somethin' like that again. He wants to show his strategy's workin'. There might be a deal to be had here 'cause neither side wants this right now.
MARX: Trump tweeted about flattening tariffs to 80% for Chinese goods, but he left it up to Bessent to make the final call. Bessent admitted current tariffs are unsustainable but hasn't said where he's aimin' to go. Grozoubinski warns negotiations could take time, and both sides are feelin' the hurt.
GROZOUBINSKI: They're gonna hurt more the longer it goes on. This is gonna be the first steps in a dance where they'll try to figure out what a win would look like, and if that's a price they're willing to pay.
MARX: The Chinese only confirmed one delegate, Vice Premier He Lifeng, for the talks, and neither side's disclosed the clandestine Swiss location where the action's gonna go down. But one thing's certain—this cat's outta the bag, and we're gonna keep watchin' this story.
For NPR News, I'm Willem Marx in Geneva, Switzerland. Transcript provided by NPR, Copyright NPR.
- The US-China trade talks, initiated due to tariffs imposed by President Trump, took place in Geneva, Switzerland.
- Treasury Secretary Scott Bessent and US trade rep Jamieson Greer happened to be in Switzerland on the same day as the Chinese, leading to the meetings.
- Scott Bessent met with Swiss President Karin Keller-Sutter, who mentioned Switzerland's historic role as a peacemaker in relation to the conversations.
- Former Australian diplomat Dmitry Grozoubinski believes Trump might declare another victory in the trade tussle with China, similar to the last one.
- The Chinese confirmed Vice Premier He Lifeng as their delegate for the trade talks, but the secret Swiss location where the meetings are taking place remains undisclosed.
- Willem Marx, reporting for NPR News, stated that they will continue to follow the general-news story closely.
