The source says that the US -Chinese tariff talks will continue on Sunday.

sensitive Talks between us and the Chinese delegations The customs tariff that threatens to raise the global economy has ended after a day of lengthy negotiations and will resume on Sunday, a source that has been informed of the meetings on CBS News was confirmed.

There was no immediate indication of whether any progress was made on Saturday during a meeting more than 10 hours between Treasury Secretary Scott Payet and Chinese Deputy Prime Minister in Switzerland. The talks, which can help stabilize the global markets carried out by the confrontation of the United States of China, have been moved in secrecy and none of the two sides made comments on the correspondents on their way out.

On the basis of BESSENT Interview with Fox News Last week, the initial discussions were likely about “canceling the escalation, not about the big commercial deal.” The Treasury Secretary said that the United States and China “share interests” because the high definitions in the sky imposed by both countries last month are not “sustainable.”

The American commercial actor Jamieson Greer is also in Switzerland alongside BESSENT conversations.

Several convoys of black vehicles left the residence of the Swiss ambassador to the United Nations in Geneva, which hosted talks aimed at canceling trade tensions between the largest economists in the world. Diplomats from both sides also confirmed that the talks occurred.

The talks were taking place in the “Villa of Silic” in the eighteenth century overlooking the Geneva Lake. The former property was inherited to the Swiss state in 1973, according to the Geneva government.

Hope is for the two countries to expand the massive taxes-definitions-have slapped each other, a step that will reduce financial markets and global companies on both sides of the Pacific Ocean that depends on the trade of the United States of China.

In an interview with NBC News Last week, President Trump claimed that Chinese officials “want to make a deal strongly. We’ll see how all this turns, but it should be a fair deal.” The president also said he expected to reduce the customs tariff for China “at some point.”

Meanwhile, Chinese officials said they were open to negotiating with the United States on trade, however I pushed Trump administration To drop the “unilateral” definitions first.

Last month, Mr. Trump raised the American definitions on China To 145 % combinedChina fell by hitting US imports by imposing 125 %. The definitions that rise mainly to boycott the countries that cross each other’s products, which led to the disruption of trade, which amounted to 660 billion dollars last year.

Even before the talks began, Mr. Trump suggested on Friday that the United States can reduce the tariffs of definitions on China, saying in fact a social position. “80 % tariff looks correct! It reaches Scott. ″

Sun Yun, director of the China Program at the Stimson Center, indicated that it will be the first time that he and Bessent have spoken. It suspects that the Geneva meeting will lead to fundamental results.

“The best scenario is that the two sides agree to cancel the escalation on … tariffs at the same time,” she said, adding that a small discount will send a positive signal. “It cannot be just words.”

Since his return to the White House in January Favorite economic weapon. He has, for example, Imposing a 10 % tax on imports Almost every country in the world.

But the battle with China was the most intense. The customs tariffs on China include a 20 % cost aimed at pressing Beijing to make more effort to stop the artificial phonetane flow to the United States. The remaining 125 % includes a dispute dating back to Mr. Trump’s first term and comes above the customs tariff imposed on China at the time, which means that the total tariff on some Chinese goods can exceed 145 %.

During the first period of Mr. Trump, the United States claimed that China claimed that China was using unfair tactics to give itself an advantage in advanced technologies such as quantum computing and driver without driver. These allegations include forcing the United States and other foreign companies to deliver commercial secrets in exchange for reaching the Chinese market; Using government funds to support local technology companies; And an explicit theft of sensitive techniques.

These issues were not completely resolved. Nearly two years of negotiation, the United States and China reached an agreement for the so -called first stage in January 2020. The United States agreed not to proceed with the high tariffs in China, and Beijing agreed to purchase more American products. Difficult issues – such as China’s subsidies – have been left for future negotiations.

But China did not reach the promised purchases, partly because Covid-19 disrupted world trade after announcing the first stage of the truce.

Fighting on Chinese technical policy is now resuming.

Mr. Trump was also moved due to the massive trade deficit in America with China, which reached 263 billion dollars last year.

On Switzerland on Friday, Bessin and Jarir also met with Swiss President Karen Keeler Strip.

Mr. Trump last month Suspended To slap the huge definitions by 31 % on Swiss goods – more than 20 % of the fees that they exported from the European Union. Currently, he reduced these taxes to 10 % but warned that he could raise them again.

The government in Bern follows a cautious approach. But he warned against influencing decisive Swiss industries such as watches, coffee capsules, cheese and chocolate.

The government said last week: “Increasing trade tensions are not in the interests of Switzerland. The anti -customary tariff measures will require the costs of the Swiss economy, especially by making imports from the United States more expensive,” adding that the executive branch “does not plan to impose any counter -measure at the present time.”

On Saturday, Pisent said that commercial talks with Switzerland were “very fruitful”, and was “optimistic about the speed of these negotiations”, noting that Mr. Trump The commercial deal with the United Kingdom It is still completed.

“I am happy that we have agreed on the accelerating commercial talks, and we expect that a detailed Swiss proposal will be presented to Ambassador Jarir by next week,” Pisent wrote on social media. “Swiss companies indicated their interest in investing 150-200 billion Swiss francs in new American investments thanks to President Trump’s policies, and we look forward to our ongoing talks.”

The United States is the second largest commercial partner in Switzerland after the 27 -member country bloc, which is almost surrounding the country of wealthy Alps, over the age of 9 million. The government said that the United States trade in goods and services has erupted over the past two decades.

The Swiss government said that Switzerland canceled all industrial tariffs on January 1 of last year, which means 99 % of all commodities from the United States to Switzerland can be imported from the fees.

Willie James Inman

He contributed to this report.