Geneva: Today, US Treasury Secretary Scott Besant and US Trade Representative Jamison Greer are meeting with Chinese Vice Premier He Lifeng in Switzerland for crucial trade negotiations. These talks in Geneva arise amid escalating trade tensions triggered by US President Donald Trump’s imposition of 10% tariffs on all imports to the United States, alongside additional tariffs targeting various trading partners, which have led to turmoil in financial and stock markets.

According to National Iraqi News Agency, although Trump has suspended some tariffs to facilitate negotiations, special tariffs on Chinese goods remain active, reaching levels as high as 145%. In retaliation, China has imposed tariffs of up to 125% on US products. The Geneva discussions mark the first concrete step by both nations, each aiming to assert its position in this ongoing confrontation. There are signals that Washington might consider reducing some tariffs as a preliminary measure to resolve the crisis.

In connection with these developments, Trump expressed his stance on the Truth Social platform on Friday, stating: “80% tariffs on China seem appropriate. It’s up to Scott P. (Besant).”