Beijing, however, was more measured about the negotiations’ overall direction. China, in an editorial in its state-run news agency published before Sunday’s second day of negotiations kicked off, said it would “firmly reject any proposal that compromises core principles or undermines the broader cause of global equity.”
The discussions were held at a stately villa that serves as the residence of the Swiss ambassador to the United Nations.
Negotiations could help stabilize world markets roiled by the U.S.-China standoff that has ships in port with goods from China unwilling to unload until they get final word on tariffs.
Trump last month raised U.S. tariffs on China to a combined 145%, and China retaliated by hitting American imports with a 125% levy. Tariffs that high essentially amount to the countries’ boycotting each other’s products, disrupting trade that last year topped $660 billion.
In its editorial, Xinhua said, “Talks should never be a pretext for continued coercion or extortion, and China will firmly reject any proposal that compromises core principles or undermines the broader cause of global equity.”
Still, top members of the Trump administration were following the president’s lead in insisting that a reset of U.S.-China trade relations could be in the offing.
“Secretary Bessent has made clear that one of his objectives is to de-escalate,” U.S. Commerce Secretary Howard Lutnick, who wasn’t in Geneva, said on “Fox News Sunday.” He added that the U.S. and China have both imposed tariffs that are “too high to do business, but that’s why they are talking right now.”
“We are the consumer of the world. Everybody wants to sell their goods here,” Lutnick said. So they need to do business with American and we’re using the power of our economy to open their economy to our exporters.”
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