Written by Kelly Were
GENEVA, SWITZERLAND — The United States and China are set to meet in Switzerland this week for long-awaited trade negotiations, in a bid to cool rising economic tensions that have snowballed into a full-blown trade war between the world’s two largest economies.
This will be the first formal engagement between Washington and Beijing since President Donald Trump imposed a staggering 145 percent tariff on Chinese imports, a move that triggered swift retaliation from China with a 125 percent duty on American goods.
Representing the U.S. in the talks will be Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer. On the Chinese side, Vice Premier He Lifeng will lead the delegation, according to official statements from both governments.
Businesses and global investors are closely watching the outcome of the talks, which come as the International Monetary Fund recently slashed its 2025 global growth forecast from 3.3% to 2.8%, citing the ongoing trade dispute as a major contributing factor.
Speaking to Fox News, Secretary Bessent underscored the urgency of the negotiations, stating that the current tariff levels were “unsustainable” and acknowledging a shared interest in stepping back from the brink.
“We don’t want to decouple. What we want is fair trade,” Bessent said. He tempered expectations, noting that the initial focus would be on “de-escalation” rather than a sweeping trade agreement. “We’ve got to de-escalate before we can move forward.”
The summit in Switzerland marks a cautious but crucial step in addressing what economists warn could become a prolonged economic standoff with global repercussions.
