Negotiations began in Geneva, Switzerland on Saturday, May 10th, to deactivate the growing commercial war between the US and China.
President Donald Trump has made a tone by proposing it 80% tariff on Chinese imports “It seems right.” The significant decline, compared to the current 145% imposed in April, had an impact on bilateral trade.
In a true socially posted message, Trump described the first day of the conversation as “very good,” emphasizing a “friendly but constructive” environment and assures that a preliminary agreement was reached without detailing them.
Despite Trump’s optimism, his administration highlights it China needs to respond to tariff reductionsfrom Asian giants, they previously expressed “the Chinese resolve to protect their development interests remains unchanged, or their position and purpose to defend international fairness and justice.”
The negotiations that continue this Sunday will seek to ease the economic tensions caused by mutual tariffs between the US and China. According to US Treasury Secretary Scott Becent, the measure was large enough to produce a de facto commercial.
The lack of specific details on agreed points reinforces the perception that these meetings are the first step rather than a decisive progress. However, the market responded to moderate optimism after rumours of progress. Bitcoin (BTC) prices continue to hover at USD 104,000. It reflects an increase of 9.6% over the last 7 days.
With forecasts of impacted global trade and recession on the horizon, negotiations in Geneva represent an important opportunity for both countries. However, mutual distrust and solid position suggest that substantial agreements may require months of dialogue.
