Amid rising trade tensions, the United States and China are preparing for a new round of high-level discussions, with U.S. Treasury Secretary Scott Bessent set to meet senior Chinese officials in Switzerland later this week.
The U.S. Treasury Department announced Tuesday that Bessent will travel to Switzerland on Thursday for the talks. While the department did not specify who he would meet, China’s Commerce Ministry and state media identified Vice Premier He Lifeng as Beijing’s representative.
According to China’s Commerce Ministry, the talks come in response to growing global pressure, China’s domestic economic concerns, and calls from U.S. businesses and consumers for relief from the intensifying trade war.
This meeting will be the first senior-level engagement between the two nations since tensions escalated sharply in early April.
Speaking earlier on Tuesday, President Trump said Chinese officials were seeking a way to ease the conflict, and signaled openness to discussions in the near future.
"They want to negotiate, and they want to have a meeting,” he said in the Oval Office, alongside Canadian Prime Minister Mark Carney.
The Trump administration has implemented sweeping tariffs, some as high as 145%, on Chinese imports. In retaliation, Beijing imposed duties of up to 125% on American goods. Despite the tit-for-tat escalation, both governments have granted exemptions for select goods, including vital electronics, in a bid to soften the economic impact.
Trump has issued mixed signals regarding the state of U.S.–China negotiations but has previously mentioned ongoing communication, including a direct phone call with Chinese President Xi Jinping.
The Switzerland meeting may offer a crucial opportunity to de-escalate a trade conflict that has unsettled global markets and strained the economic relationship between the world’s two largest economies.
No comments:
Post a Comment