A significant development in the ongoing trade tensions between the United States and China is set to unfold this weekend. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer will meet with Chinese officials in Switzerland to discuss trade and economic issues. This meeting comes after China confirmed their participation in the talks.
Bessent shared the news during an interview on Fox News, noting that he was originally scheduled to meet with Swiss officials but will now also engage with the Chinese delegation, who are traveling through Europe. The discussions are expected to take place on Saturday and Sunday.
Recent months have seen escalating tariffs between the two nations. While many countries received a temporary pause on certain tariffs, the U.S. has increased tariffs on Chinese goods to an unprecedented 145%. In retaliation, China raised tariffs on U.S. goods to 125%. Bessent emphasized that the current trade situation is not sustainable, particularly for China, and highlighted the need for fair trade practices.
The effects of these tariffs have been felt on both sides. In China, protests erupted as factory workers demanded unpaid wages due to closures linked to the tariffs. In the U.S., concerns are growing over rising prices and declining shipments from China.
Bessent reiterated that the goal is not to sever ties with China but to establish fair trade. Alongside the discussions with Chinese officials, Bessent and Greer will also meet with Switzerland’s president, Karin Keller-Sutter, to address trade matters.
Greer stated that he is committed to rebalancing trade relations to ensure fairness and protect American interests. He expressed optimism about the upcoming meetings and the potential for productive discussions.
In addition to the talks with China, U.S. officials have been engaging with other countries, including India, South Korea, and Japan, signaling progress in those negotiations as well.