Switzerland talks offer hope for easing US-China trade tensions

Negotiations between China and the United States, scheduled to take place this weekend in Switzerland, could lead to the suspension of mutual customs duties, Swiss Economy Minister Guy Parmelin said.

The potential move, discussed during a press conference following talks with US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng, is seen as a step towards easing the trade tensions between the two global superpowers, Caliber.Az reports via Russian media.

"We can imagine everything: we can imagine a mutual suspension of customs duties for the duration of the negotiations. It depends on the parties," Parmelin stated, highlighting the possibility of a temporary halt in tariffs as part of the diplomatic discussions.

The talks are expected to take place in Bern from May 9 to May 12, where Vice Premier He Lifeng will meet with Swiss leaders and hold consultations with Bessent regarding China-US trade relations.

The trade relationship between China and the US has been strained due to ongoing protectionist measures implemented by Washington. The US has imposed tariffs on Chinese goods that reach as high as 145 per cent, while China retaliated by raising tariffs on American products to 125 per cent, effective from April 12. These tariffs have significantly impacted bilateral trade, exacerbating tensions between the two nations.

The upcoming talks in Switzerland offer a potential opportunity to de-escalate the trade conflict and pave the way for more constructive dialogue. While the suspension of duties remains a hypothetical scenario, the discussions will likely focus on addressing the broader trade imbalances and seeking a more sustainable solution for both parties.

By Vafa Guliyeva