Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer will meet with top Chinese officials in Switzerland on Saturday and Sunday to discuss economic and trade policies between the two countries.
The meeting represents an opportunity for the two nations to resolve their trade conflict, which President Donald Trump escalated with his 145% tariff on the country.
“We have shared interests,” Bessent said Tuesday on Fox News’s The Ingraham Angle. “The current tariff war isn’t sustainable, especially on the Chinese side. And, you know, 145% [tariffs], 125%, is the equivalent of an embargo. We don’t want to decouple; what we want is fair trade.”
“My sense is that this will be about deescalation, not about the big trade deal,” Bessent added. “But we’ve got to deescalate before we can move forward.”
A Chinese ministry spokesperson told Reuters the meeting was happening.
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“On the basis of fully considering global expectations, China’s interests, and the appeals of U.S. industry and consumers, China has decided to re-engage the U.S.,” the Chinese statement said.
“There is an old Chinese saying: Listen to what is said, and watch what is done…. If (the U.S.) says one thing but then does another, or attempts to use talks as a cover to continue coercion and blackmail, China will never agree,” it added.
Bessent and Greer are also expected to meet with Swiss President Karin Keller-Sutter during their visit.
