Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer are set to meet with senior Chinese officials in Switzerland this weekend to address ongoing economic and trade tensions between the two countries.
The high-level discussions follow President Trump’s decision to impose a 145% tariff on Chinese goods, a move that has intensified the trade conflict. Bessent, speaking Tuesday on Fox News’s The Ingraham Angle, called the current tariff levels “the equivalent of an embargo,” emphasizing the need for deescalation. “We have shared interests,” he said. “The current tariff war isn’t sustainable, especially on the Chinese side. We don’t want to decouple; what we want is fair trade.”
Bessent noted that expectations for a comprehensive trade deal were premature. “My sense is that this will be about deescalation, not about the big trade deal. But we’ve got to deescalate before we can move forward.”
China signaled a cautious willingness to engage, citing global expectations and concerns from U.S. industry and consumers. “China has decided to re-engage the U.S.,” read an official statement, while also warning, “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.”
During their stay in Switzerland, Bessent and Greer are also expected to meet with Swiss President Karin Keller-Sutter.
