China-US tariff dispute: Minister Scott Bessent and He Lifeng negotiate in Geneva

China emphasized in advance that the US had requested talks with Beijing. Beijing had long insisted that the US lift the tariffs before trade talks. However, after weighing Chinese interests and appeals from US companies and consumers, the agreement was reached, a Commerce Department spokesperson said. The US must correct its mistakes.

Bessent: USA wants fair trade

US Treasury Secretary Bessent told Fox News that the goal is not a trade agreement, but rather de-escalation. The US and China are both interested in an agreement. The current level of tariffs amounts to a trade embargo. The US simply wants fair trade.