In what could mark a major breakthrough in the protracted US-China trade war, top officials from both countries are scheduled to meet this weekend in Switzerland for high-level talks aimed at reducing mounting tariffs and easing global economic tensions.
US Treasury Secretary Scott Bessent and Washington’s lead trade negotiator Jamieson Greer will hold discussions with China’s Vice Premier and chief economic strategist, He Lifeng. This will be the first face-to-face engagement between senior officials of both nations since US Senator Steve Daines met Chinese Premier Li Qiang in Beijing in March.
The announcement of the meeting, which surfaced late Tuesday, sparked a rally in US equity index futures as investors reacted positively to the possibility of de-escalation after two consecutive days of losses on Wall Street. These losses were largely attributed to investor concerns over President Donald Trump’s escalating tariff measures, which have unsettled markets worldwide.
According to sources within the US Trade Representative’s office and the Treasury Department, Bessent and Greer will travel together to Geneva on Thursday. While in Switzerland, the pair will also meet with Swiss President Karin Keller-Sutter to discuss ongoing efforts to improve reciprocal trade relations.
“This will be about de-escalation. We’ve got to de-escalate before we can move forward,” Bessent said during an appearance on Fox News Channel’s The Ingraham Angle.
Chinese officials confirmed their participation in the upcoming talks. A spokesperson from China’s Ministry of Commerce stated, “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 US.”
The meeting is expected to focus on a range of contentious issues, including the rollback of broad-based tariffs, exemptions on specific goods, US de minimis policies, and export control regulations. Tensions have been building for months as both countries have imposed steep tariffs exceeding 100% on each other’s goods, disrupting supply chains and creating uncertainty in global trade.
At the time of filing this report, China’s State Council has not made an official statement regarding the upcoming negotiations.
The renewed engagement comes after a prolonged stalemate in US-China relations, with both sides previously unwilling to make concessions in a trade war that has affected economies across multiple continents.
