US, Chinese officials begin tariff talks

Chinese Vice Premier He Lifeng held talks with US Treasury Secretary Scott Bessent on Saturday in a tentative first step towards defusing a trade war that is disrupting the global economy. The talks will continue on Sunday.

Washington is seeking to reduce its trade deficit with Beijing and convince China to renounce what the US says is a mercantilist economic model and contribute more to global consumption, a shift that would require politically sensitive domestic reforms.

Beijing has pushed back against what it sees as external interference. It wants Washington to lower tariffs, clarify what it wants China to buy more of, and treat it as an equal on the world stage.