#TradeWarEases The US and China delegations have begun high-level negotiations in Geneva aimed at easing the trade war between the world's largest economies. The American delegation is led by Treasury Secretary Scott Bessent, while the Chinese delegation is headed by He Lifeng. In April, US President Donald Trump raised tariffs on Chinese imports to 145%, and in response, China imposed a 125% tariff on American goods - in essence, this means a mutual boycott of bilateral trade, which last year amounted to over $660 billion.