Tariffs: US and China meet in Geneva for negotiations

Members of Donald Trump's US government are meeting with Chinese authorities in Geneva, Switzerland, this Saturday (10). The aim of the meeting is to discuss a compromise to resolve the tariff impasse between the world's two largest economies.

On the American side, Scott Bessent, US Treasury Secretary, is due to meet with He Lifeng, China's Vice Premier.

On Friday (9), President Trump said he hopes to reach a fair agreement with the Asian country and that he should close between 4 or 5 trade agreements . In addition, he highlighted that there will always be a basic rate of 10%.

Import tariffs against all Chinese goods are currently at 145%. In retaliation, China has imposed 125% tariffs on American goods.

Trump's comments have buoyed markets. At the close of trading on Friday, the main American indexes, Dow Jones, S&P 500 and Nasdaq, were virtually stable. In Brazil, investors were also encouraged by the progress in negotiations.

Trump also said China should open its market to Americans and stressed that an 80% tariff on Chinese goods “sounds right.” The comment came a day after a deal with the United Kingdom to reduce import tariffs on autos and steel, among other items.