U.S. and China to Hold High-Stakes Trade Meeting This Saturday in Geneva
Top officials from both countries will meet in Geneva this weekend in what could be a key turning point in the ongoing tariff war.
It’s the first high-level contact since tariffs between the two countries surged to over 100%, with new duties hitting everything from autos to pharmaceuticals.
On the table:
Reducing or rolling back broad tariffs
Product-specific duties and U.S. export controls
The recent U.S. move to end de minimis exemptions—which would subject even small, low-value imports from China to tariffs and formal customs clearance
Why this meeting matters:
After months of standoff, China has agreed to engage—signaling a shift in tone. At the same time, Beijing introduced interest rate cuts and injected cash into the banking system. While these measures don’t change the tariffs, they help offset the economic pressure and suggest China is entering talks with a strategy, not from a place of weakness.
While no major breakthroughs are guaranteed, the decision to talk—especially at this level—is a meaningful step. As Secretary Bessent put it: “We’ve got to de-escalate before we can move forward.”
Reality Hits the Docks: First Vessel Arrives Under New 145% Tariff
As officials prepare to negotiate, the financial impact of the trade war is already showing up at the ports. At the Port of Long Beach, the OOCL Violet has docked with over $560 million in goods from China—about 40% of which is now subject to the steep 145% tariff. Importers could be looking at more than $400 million in additional duties on this shipment alone. Notably, the cargo was loaded before the April 2 tariff announcement, illustrating just how quickly U.S. companies are being hit by the shifting trade landscape.
Looking Ahead
This is a critical moment for global trade. While the path forward remains uncertain, we’re committed to keeping you informed, supported, and prepared—every step of the way. If you have questions about how these developments may impact your shipments, don’t hesitate to reach out.
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