$BTC TradeWarEases U.S.-China trade war suggest a potential de-escalation. Top officials from both nations met in Geneva, Switzerland, starting May 10, 2025, to address the trade conflict sparked by President Trump's tariffs, which imposed a 145% duty on Chinese goods, prompting China's 125% retaliatory tariffs. Trump described the talks as a “total reset” in trade relations, with U.S. Treasury Secretary Scott Bessent reporting “substantial progress” and China's Vice Premier He Lifeng calling the discussions “candid” and significant for global economic stability.

Key points:

• The U.S. aims to reduce its $295 billion trade deficit with China and push for changes in China’s economic model, while China seeks lower U.S. tariffs and clarity on desired imports.

• Reports indicate the U.S. may lower tariffs to around 60%-80%, with China considering exemptions on certain U.S. goods to ease tensions.