“A very good meeting today with China, in Switzerland. Many things discussed, much agreed to,“ Trump posted on his Truth Social platform.
Earlier, top U.S. and Chinese officials wrapped up the first day of talks in Geneva aimed at defusing a trade war that threatens to hammer the global economy and planned to resume negotiations on Sunday, a source close to the discussions said.
Neither side made any statements afterwards about the substance of the discussions nor signaled any specific progress towards reducing crushing tariffs as meetings at the residence of Switzerland’s ambassador to the U.N. concluded at about 8 p.m. local time (1800 GMT).
The trade dispute, combined with Trump’s decision last month to impose duties on dozens of other countries, has disrupted supply chains, unsettled financial markets and stoked fears of a sharp global downturn.
The location of the talks in the Swiss diplomatic hub was never made public. However, witnesses saw both delegations returning after a lunch break to the gated U.N. ambassador’s villa, which has its own private park overlooking Lake Geneva in the leafy suburb of Cologny.
At the same time, Mercedes vans with tinted windows were seen leaving a hotel where the Chinese delegation was staying on the lakeside as runners preparing for a weekend marathon warmed up in the sunshine.
Beijing has pushed back against what it sees as external interference. It wants Washington to lower tariffs, clarify what it wants China to buy more of, and treat it as an equal on the world stage.
“Whether the road ahead involves negotiation or confrontation, one thing is clear: China’s determination to safeguard its development interests is unshakable, and its stance on maintaining the global economic and trade order remains unwavering,“ Xinhua said.
With distrust running high, both sides have been keen not to appear weak, and economic analysts have low expectations of a breakthrough.
He has suggested the discussions were initiated by China. Beijing said the U.S. requested the discussions and that China’s policy of opposing U.S. tariffs had not changed.
Swiss Economy Minister Guy Parmelin met both parties in Geneva on Friday and said the fact that the talks were taking place was already a success.
Switzerland helped to broker the meeting during recent visits by Swiss politicians to China and the United States.
She has welcomed the talks “as a positive and constructive step towards de-escalation”, calling for sustained dialogue between the two top economies.
China retaliated with 125% retaliatory tariffs, and said it would not bow to “imperialists” and bullies.
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