U.S. Treasury’s Bessent and Trade Rep Greer Head to Switzerland for China Talks

In a bid to thaw the chilly trade relationship between Washington and Beijing, U.S. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer will travel to Switzerland later this week for high-level talks with China’s Vice Premier He Lifeng. Announced jointly by both governments on Tuesday, these discussions mark the first confirmed direct negotiations since President Trump imposed sweeping tariffs on Chinese imports.

Rekindling Trade Dialogue

The upcoming meeting aims to jump-start negotiations that have been stalled amid tit-for-tat duties—U.S. levies reached as high as 145% on select Chinese goods, while Beijing retaliated with up to 125% import taxes on American products. These measures have rattled global markets and threatened to raise prices on everything from manufacturing equipment to everyday items like clothing and toys.

Scott Bessent, speaking on Capitol Hill earlier Tuesday, emphasized that formal talks with China have yet to begin. “China, we have not engaged in negotiations as of yet,” he told lawmakers, even as he suggested the U.S. could clinch deals with other partners soon.

Market Implications and Political Undercurrents

Investors have greeted the news of renewed dialogue with cautious optimism, hopeful that tariff relief could ease supply-chain strains and bring down costs. Yet President Trump’s recent remarks have been mixed—while he’s expressed openness to lowering tariffs over time, he also maintained that the U.S. “loses nothing” by curbing trade with China. On NBC’s Meet the Press, he quipped that American children “don’t need 30 dolls” and could make do with fewer toys if it meant rebalancing trade.

As Bessent and Greer prepare to meet with Vice Premier He, all eyes will be on whether these talks can pave the way for tangible tariff rollbacks or simply serve as a diplomatic signal. With consumer prices, corporate costs, and market sentiment all hanging in the balance, this Swiss rendezvous could be a pivotal moment in U.S.–China economic relations.