At a cargo port in Qingdao, Shandong province, China. (Photo: Xinhua/VNA)

The US delegation is led by Treasury Secretary Scott Bessent, who has signaled that the current tariff levels are unsustainable in the long term. The Chinese delegation is headed by Vice Premier He Lifeng, who oversees economic affairs.

The meetings, scheduled to continue on Sunday, are the first since Mr. Trump ratcheted up tariffs on Chinese imports to 145 percent and China retaliated with its own levies of 125 percent on US goods. The tit-for-tat effectively cut off trade between the world’s largest economies while raising the possibility of a global economic downturn.

On May 9, China reported a 21% year-on-year drop in exports to the United States in April. At the same time, major American corporations have warned that rising costs from the tariffs have forced them to raise prices, contradicting President Trump’s promise to curb inflation.

Despite the importance of the talks, expectations for a breakthrough remain low. Analysts suggest this round will focus more on clarifying each side’s position and laying the groundwork for future negotiations.