In a significant development that may signal a thaw in U.S.-China trade tensions, two senior Trump administration officials are set to meet with Chinese representatives later this week to discuss trade and economic issues, their agencies announced Tuesday evening.
Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer will travel to Geneva, Switzerland, for separate meetings with Chinese officials and Swiss President Karin Keller-Sutter. The discussions mark a potential shift in the ongoing trade standoff that began with the imposition of steep tariffs by President Donald Trump.
Greer emphasized the strategic goals of the talks, stating, “At President Trump’s direction, I am negotiating with countries to rebalance our trade relations to achieve reciprocity, open new markets, and protect America’s economic and national security.”
The announcement sparked a strong market reaction, with Dow futures rising 270 points (0.7%), the S&P 500 up 0.8%, and Nasdaq futures climbing 1%. Investor optimism has grown following recent exemptions for some Chinese electronics from Trump’s 145% tariffs, raising hopes for a potential agreement.
While testifying before Congress, Bessent acknowledged that formal talks had stalled but noted early signs of détente. Both Trump and Bessent have expressed concern over the long-term viability of the current tariff levels, and Chinese officials last week indicated a willingness to engage in negotiations.
Written By Rodney Mbua
