this post was submitted on 10 May 2025
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https://archive.is/FKuhi (reuters)

https://archive.is/MIdNc (afp)

Chinese Vice Premier He Lifeng met for about eight hours with U.S. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer in Geneva in their first face-to-face meeting since the world's two largest economies heaped tariffs well above 100% on each other's goods.

U.S. President Donald Trump said on Friday that an 80% tariff on Chinese goods "seems right", suggesting for the first time a specific alternative to the 145% levies he has imposed on Chinese imports.

Neither side made any statements about the substance of the discussions nor signaled any progress towards reducing crushing tariffs as meetings at the residence of Switzerland's ambassador to the U.N. concluded at about 8 p.m. local time. (1800 GMT)

The discussions are expected to restart on Sunday in the Swiss city, according to an individual familiar with the talks, who was not authorized to speak publicly.

The 80% number is just something that Trump posted on his social media early on Friday morning, before any meeting ever happened.


UPDATE Trump posted on truthsocial, 1 hour ago. He describes the meeting with the phrases "total reset" and "great progress". I won't believe this until I hear the perspective from China's government.

https://archive.is/dI6Mc

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[–] dessalines@lemmy.ml 20 points 2 days ago (27 children)

You've made a lot of unsourced claims here:

  • China does not want to internationalize the RMB to challenge the dollar
  • Evergrande bankrupting the PRC and putting it in a weak negotiation position
  • Ironically, Russia tried to show China the way by forgiving $23 billion debt among African countries, which, if China had followed suit, would have paved the way towards dedollarization and ending the US monetary hegemony. Instead, China doubled down on protecting the dollar hegemony (can’t give up that $4.5T USD reserve that easily huh) and effectively putting an end to the whole BRICS dedollarization push.

What are your sources that China doesn't have a goal of dedollarizing, or that it hasn't forgiven debts?

I have warned for more than 1.5 year (actually, since the end of Zero Covid in 2023) that China’s deflationary spiral is not something that you can stimulus/subsidy out of.

You know better than the PRC's planners?

[–] KnownUnknownKnower@hexbear.net 12 points 1 day ago (2 children)

Dessalines vs XHS, a meeting of the minds

[–] dessalines@lemmy.ml 7 points 1 day ago (1 children)

Not much of an engagement. XHS claimed that the PRC is now run by liberals and abandoned marxism in the 90s.

I disagree with most of what they say, including this post, I just haven’t read enough history to argue against it. I was hoping the “engagement” would produce some clarity.

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