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U.S. and Chinese officials are scheduled to meet in Switzerland this Saturday and Sunday for the first high-level dialogue since President Donald Trump’s sweeping tariffs, both governments confirmed on Tuesday.
"We will agree on what we're going to talk about. My sense is that this will be about de-escalation, not about the big trade deal," U.S. Treasury Secretary Scott Bessent told Fox News. "We've got to de-escalate before we can move forward.
China’s Ministry of Foreign Affairs also announced that Vice Premier He Lifeng will attend the talks on behalf of Beijing. "Vice Premier He, as the Chinese lead person for China-U.S. economic and trade affairs, will have a meeting with the U.S. lead person, Treasury Secretary Scott Bessent," the ministry stated.
The Office of the U.S. Trade Representative (USTR) confirmed that Jamieson Greer will meet “his counterpart from the People’s Republic of China to discuss trade matters.”
However, in a statement issued Wednesday, Beijing emphasized that it would not compromise on its core positions, vowing to defend “justice” in the negotiations while attributing its participation to “appeals from U.S. industry and consumers.”
“If the U.S. wants to resolve the issue through negotiations, it must face up to the serious negative impact of unilateral tariff measures on itself and the world,” a spokesperson for China’s Ministry of Commerce said.
Since President Donald Trump's return to the White House in January, his administration has imposed tariffs totaling 145% on Chinese goods, with additional sector-specific measures layered on top. In response, Beijing introduced 125% levies on American imports, along with other targeted restrictions.
The escalating tariff war has resulted in historically high duties that have unsettled financial markets and reportedly led to a sharp slowdown in bilateral trade.
"This isn't sustainable, as I have said before, especially on the Chinese side. 145%, 125% is the equivalent of an embargo. We don't want to decouple. What we want is fair trade," Bessent said.
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