Top U.S. officials, including Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer, will meet with Chinese counterparts in Switzerland this weekend for high-level trade talks. The talks come after escalating tariffs between the two nations, sparking concerns over economic impact.
Top U.S. officials are set to meet with a high-level Chinese delegation this weekend in Switzerland, marking the first significant talks between the two countries since President Donald Trump instigated a trade war with tariffs on imports. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer will meet with their Chinese counterparts in Geneva, marking the most senior-level discussions between the two nations in months.
The meeting comes at a time of growing concern in the U.S. over the economic impact of the trade war, which has led to higher prices and disrupted supply chains for consumer goods. China, the world's largest exporter, has borne the brunt of Trump's tariffs, with retaliatory tariffs from China now standing at 125%, while U.S. tariffs on Chinese goods have reached 145%.
According to a Chinese ministry spokesperson, the decision to engage in talks followed careful evaluation of global expectations, Chinese interests, and calls from U.S. businesses and consumers. However, the spokesperson emphasized that China would not sacrifice its principles or global equity in any agreement.
Economists warn that the escalating tariffs have already started to affect U.S. consumers, raising the costs of everyday goods such as groceries, autos, and housing. The risk of a recession is also growing, with many analysts predicting further economic strain due to the ongoing trade conflict.
Wendy Cutler, a former U.S. trade official, welcomed the talks, describing them as a valuable opportunity to discuss unwinding some of the tariffs. She cautioned that the process would take time, and quick resolutions should not be expected.
In addition to the trade discussions, Bessent and Greer are also set to meet with Swiss President Karin Keller-Sutter, with both U.S. officials having held prior discussions with their Chinese counterparts before the onset of the trade war.
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