US Treasury Secretary, Scott Bessent and chief trade negotiator Jamieson Greer will meet China’s top economic official He Lifeng in Switzerland this weekend for talks in what could be a first step toward resolving a trade war disrupting the global economy.
The news of the meeting, which came late on Tuesday was said to have sent US equity index futures sharply higher as trading resumed after a second straight day of losses on Wall Street fueled by uncertainty over US President Donald Trump’s tsunami of tariffs.
The meeting is coming after months of escalating tensions that have seen duties on trade between the world’s two largest economies soar well beyond 100%.
DAILY POST reports that this is the first meeting between senior Chinese and American officials since US Senator Steve Daines met Premier Li Qiang in Beijing in March.
Both sides are expected to discuss the reductions of the broader tariffs.
The negotiating teams will also discuss eliminating duties on specific products, US policies on de minimis and the US export control list.
At the time of filing this report, China’s State Council has not made any comment on the development.
Recall that Washington and Beijing have been locked in a cat-and-mouse game over tariffs, with each side unwilling to be seen to back down in a trade war that has roiled global markets and upended supply chains.
According to the US Trade Representative’s office and Treasury, Greer and Bessent would travel together to Geneva on Thursday and would also meet with Swiss President Karin Keller-Sutter to discuss negotiations over reciprocal trade.
“My sense is this will be about de-escalation. We’ve got to de-escalate before we can move forward,”; Bessent told Fox News Channel’s “The Ingraham Angle.”;
After the announcement After the US announcement, a Chinese commerce ministry spokesperson confirmed that China had agreed to meet the US envoys.
“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 Chinese statement said.
