Top U.S. officials are scheduled to meet with a senior Chinese delegation in Switzerland this weekend, marking the most significant discussions between the two countries since President Donald Trump imposed steep tariffs on imports, sparking a trade war.
Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer will hold talks with their Chinese counterparts in Geneva, as announced by the Trump administration on Tuesday. These talks come amid rising concerns in the U.S. over how the tariffs are affecting prices and the availability of consumer goods.
China, the world’s largest exporter and second-largest economy, has been the hardest hit by the trade dispute. Following Trump’s announcement of the “Liberation Day” tariffs on April 2, China responded with its own tariffs. The two countries have continued escalating the tariffs since, with U.S. tariffs on Chinese goods now at 145% and Chinese tariffs on American goods at 125%.
Because of the tariffs, American companies have started pulling back—canceling Chinese orders, delaying expansion, and reducing business activity.
Bessent, speaking on Fox News’ “The Ingraham Angle” after the talks were announced, said China had been “the missing piece” in the U.S.’s trade discussions. He emphasized the need for change, saying the current situation “isn’t sustainable … especially on the Chinese side.” He compared the current tariff levels to an embargo and stated, “We don’t want to decouple. What we want is fair trade.”
Trump had earlier claimed the U.S. and China were negotiating to lower tariffs, but China denied this, insisting that Trump must first reduce his high tariffs before real discussions could happen.
On Tuesday, China’s Commerce Ministry confirmed the planned meeting in Switzerland between Vice Premier He Lifeng and Bessent.
A ministry spokesperson explained that China agreed to the meeting after carefully reviewing the U.S. position and considering both domestic interests and the voices of American consumers and businesses. However, the spokesperson stressed that China would not “sacrifice its principles or global equity or justice” for any agreement.
Treasury Secretary Scott BessentMany economists believe that the cost of tariffs will fall on consumers, who are already feeling the pressure with rising prices on cars, groceries, housing, and more. This financial strain is adding to economic stress not seen since the COVID-19 pandemic. Some experts now say the risk of a recession is increasing.
Wendy Cutler, a former U.S. trade official and now a vice president at the Asia Society Policy Institute, called the meeting a positive step.
“This first face-to-face meeting between senior U.S. and Chinese officials since Trump’s inauguration is an important chance to begin talks on reducing tariffs, setting a direction, and voicing concerns,” she said. “But no one should expect immediate results—this process will take time.”
While in Switzerland, Bessent and Greer are also expected to meet with Swiss President Karin Keller-Sutter, according to official statements.
Before the trade war began, Greer and Bessent had already held conversations with their Chinese counterparts.
Greer said in a recent interview that he had a productive hour-long conversation with his Chinese counterpart before the tensions began. “This is not a strategy to surround China,” he said. “It’s about fixing the American economy, increasing manufacturing’s share of GDP, raising wages, and building a stronger production base instead of relying on government spending.”
Bessent had also met with Vice Premier He Lifeng in February to discuss the bilateral economic relationship, according to a Treasury statement.