Trump officials to meet with Chinese counterparts on trade, economic matters

U.S. Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer will travel to Switzerland this weekend for important meetings with Chinese officials to discuss economic and trade issues, according to announcements from their offices on Tuesday.

In an interview on Fox News’ “Ingraham Angle,” Bessent said both sides share common interests and need to find a way forward. He described the current tariff war as “unsustainable,” especially for China, and added that some of the new tariffs — as high as 145% — are similar to an embargo. “We don’t want to decouple,” Bessent said. “What we want is fair trade.”

The talks are scheduled for both Saturday and Sunday, and they could mark a key step toward reducing tensions between Washington and Beijing, which have been locked in a trade war sparked by former President Donald Trump.

“This isn’t about the big trade deal yet,” Bessent said. “It’s about de-escalation. We need to lower the temperature before we can move forward.”

Last month, Trump raised tariffs on Chinese goods to 145% while easing them for nearly all other trading partners. In response, China hit back with heavy tariffs on American products.

Following the announcement of the talks, stock futures — which had opened in the red Tuesday evening — bounced back sharply.

During their visit to Switzerland, Bessent and Greer will also meet with Swiss President Karin Keller-Sutter. NBC News reported that China’s Vice Premier He Lifeng, who leads Beijing’s economic and trade relations with the U.S., will meet with Bessent.

“Economic security is national security,” Bessent said in a statement. “President Donald J. Trump is working hard to make America stronger and more prosperous, both at home and abroad. I’m looking forward to productive talks as we try to rebalance the global economic system in America’s favor.”

Greer’s office also confirmed that he will meet with his Chinese counterpart in Geneva to discuss trade matters. “At President Trump’s direction, I’m negotiating with countries to rebalance trade, open new markets, and protect America’s economic and national security,” Greer said.

“I look forward to these meetings and to visiting our team in Geneva, who work hard to promote U.S. interests on various international issues,” he added.

Earlier on Tuesday, Trump said China had expressed interest in meeting and that the U.S. would agree “at the right time.”

“They want to talk, and we’ll meet when the time is right,” Trump said during a meeting at the White House with Canadian Prime Minister Mark Carney. He also showed some frustration with people asking when new deals would be signed.

“Everyone keeps asking, ‘When are you signing deals?’” Trump said. “But we don’t have to sign deals. They need to sign deals with us. They want access to our market — we don’t need access to theirs.”

Earlier that day, Bessent told a House appropriations subcommittee that the U.S. was actively negotiating with 17 countries, but China wasn’t one of them — at least, not yet.