Trumps team has high-stakes China trade talks in Switzerland as prez tries to lower 145% tariff rate

US economic officials met Saturday in Geneva with their Chinese counterparts for the start of high-stakes negotiations to resolve the trade war that’s upended the global economy.The talks between Chinese Vice Premier He Lifeng and Treasury Secretary Scott Bessent are expected to continue Sunday, and are the first between the two nations since President Trump bumped tariffs on Chinese imports to 145%.,and the communist nation retaliated by slapping a 125% tariff on US-made goods.Bessent, along with US Trade Representative Jamieson Greer — both in red ties — were spotted leaving their hotel Saturday morning on their way to the talks, which are being held in an undisclosed location.

Talks resumed in the afternoon.Trump floated lowering the 145% rate to 80% in a Truth Social post on Friday — but said he’d let Bessent decide during the talks.“China should open up its market to USA — would be so good for them!!! Closed markets don’t work anymore!!!” Trump wrote.“80% Tariff on China seems right! Up to Scott B,” he added.White House press secretary Karoline Leavitt later told reporters Friday the number is hardly set in stone.

“That was a number the president threw out there,” she said.“The president still remains with his position that he is not going to unilaterally bring down tariffs on China.”The president has blamed China for long engaging in unfair trade practices with the US and not doing enough to stop the global flow of fentanyl from within its borders — but has in recent weeks indicated that he wants to come to a deal, and that he won’t play “hard ball.”“No, I’m not going to mention COVID.

I’m not going to say, ‘Oh, I’m going to play hardball with China, I’m going to play hardball with you, President Xi.’ No, we’re going to be very nice,” Trump told The Post last month.“We’ll see what happens.

But ultimately, they have to make a deal, because otherwise they’re not going to be able to deal in t...