On Saturday, May 10, a meeting was held in Geneva, Switzerland, between Chinese Vice Premier He Lifeng and US Treasury Secretary Scott Bessant, during which the parties discussed mutual trade issues, write Reuters.
According to the agency, the meeting lasted about 2 hours. The location of the talks in the Swiss diplomatic center was not disclosed. According to eyewitnesses, both delegations went to the residence of the Swiss ambassador to the UN in the suburbs of Cologne after the lunch break.
The trade conflict between the countries intensified after US President Donald Trump's decision to impose tariffs, which disrupted supply chains and led to a downturn in financial markets.
Washington is seeking to reduce its trade deficit with Beijing and persuade China to abandon what the United States calls a mercantilist economic model and contribute more to global consumption, which will require politically sensitive domestic reforms.
Beijing considers this position to be external interference: "China's determination to safeguard its national interests is unwavering. And the country's position on upholding international justice, fairness, and upholding the global economic and trade order remains consistent.", – says a comment from the Chinese state news agency Xinhua.
The day before, Swiss Economy Minister Guy Parmelin met with both sides in Geneva and stated that the very fact of holding negotiations is already a success.
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