After months of rising tariffs and tough talk, top U.S. and Chinese negotiators finally sat down for in-person trade talks in Geneva, Switzerland, this weekend. It’s the most significant step in months toward calming the heated trade war rattling global markets and hurting both economies.
The meeting, which started on Saturday, brought together U.S. Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng. President Donald Trump called it a “very good” meeting and shared his optimism: “We have to make a great deal for America,” he told reporters. “I think we’re going to come back with a fair deal for both China and us.”
A Risky Standoff
The talks come after the U.S. slapped 145% tariffs on Chinese goods and China hit back with 125% tariffs of its own, along with new restrictions on rare earth exports. Both sides have been trying to show they’re in control, but the current standoff is risky. Supply chains are strained, shipping volumes are dropping, and prices for everyday goods could rise in the US. Meanwhile, China’s exports to the U.S. have plunged, and its domestic economy is slowing down.
China is keeping expectations low, treating the Geneva meeting more as a feeler than a game-changer. They’re watching closely to see if the U.S. is serious about compromise. Meanwhile, Trump wants to use U.S. market access as leverage to push China to open up its economy more to American businesses.
On the Chinese side, there’s a strong sense of resolve. “China’s determined to take it on the chin — ‘don’t kneel’ — they’re taking a very hard line,” said Hong Kong lawmaker Regina Ip. But she also warned that “both sides must play their cards very carefully. They must make every move very carefully, not to escalate.”
Even if this round of talks doesn’t produce a significant breakthrough, it’s an important step. The two biggest economies in the world, together worth around $46 trillion, have a lot to lose if this trade fight drags on. As discussions continue on Sunday, the world is watching closely to see if the handshake in Switzerland can lead to a cooling of tensions and maybe, just maybe, a fair deal for both sides.
Here is a list of 10 major tech companies impacted by the ongoing trade war, using Tipranks’ Comparison Tool:
