US and China to start talks over trade war this week
Summary
US and China will start talks this week to reduce the ongoing trade war. Officials from both countries will meet in Switzerland, aiming to ease the trade tensions between the two major economies.Key Facts
- The talks will take place from May 9 to 12 in Switzerland.
- US officials attending include Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer.
- Chinese Vice Premier He Lifeng will represent China at the meeting.
- The US has imposed import taxes of up to 145% on some Chinese goods.
- China has responded with tariffs of 125% on some US goods.
- This meeting is the first high-level interaction since January.
- Experts expect the negotiations to take several months.
- Financial markets reacted with mixed signals, while US stock futures rose.
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