China and the USA have started secret negotiations in Geneva.

Negotiations between China and the USA

On Saturday morning in Geneva, Chinese Vice Premier He Lifeng began negotiations with US Secretary of the Treasury Scott Bessent. According to China's state news agency and Reuters, this meeting is the first step towards ending the trade war that undermines the global economy.

The location of the negotiations was kept strictly confidential, although a witness noticed more than 10 police cars parked near a private residence on the outskirts of Geneva. Amidst growing distrust, both sides are trying not to appear weak, so economic analysts do not expect a serious breakthrough.

The Fentanyl Problem at the Negotiations

The fentanyl issue will be a key topic in the trade negotiations between the USA and China, which will take place on May 10-11 in Switzerland. These negotiations could determine the future course of economic relations between the two countries, which are in a state of economic war, reports The Wall Street Journal.

According to the publication, the Chinese delegation, led by Vice Premier He Lifeng – a trusted associate of President Xi Jinping – will be joined by Minister of Public Security Wang Xiaohong. They will hold meetings with US Secretary of the Treasury Scott Bessent and Trade Representative Jamison Greer over the weekend. The negotiations will be crucial for the future of trade relations between the two states.

'Xi has appointed Wang – his close ally – as the key figure in negotiations with Washington on how to respond to President Trump's concerns regarding China's role in fentanyl trade, which was a step towards organizing the current trade talks,' notes The Wall Street Journal.

Against the backdrop of expectations from the upcoming negotiations between the world's largest oil consumers, oil prices are demonstrating a positive trend. After a decline of more than $1 in the previous session, on May 8 there was an increase in prices. A similar trend was observed on May 7.