High-Stakes U.S.-China Trade Talks Set for Switzerland Amid Soaring Tariff War
U.S. Treasury Secretary Scott Bessent and chief trade negotiator Jamieson Greer are set to meet with China’s top economic official, He Lifeng, in Geneva this weekend, in what could mark a crucial turning point in the deepening trade war between the world’s two largest economies.
The announcement of the planned negotiations, made late Tuesday by Washington, immediately sent U.S. equity futures higher, with stock markets in China and Hong Kong following the rally in Wednesday’s Asian trading session. Investors are hopeful that a resolution, or at least a cooling of tensions, is finally on the horizon.
Tariff Tensions Near Breaking Point
The talks come after weeks of tit-for-tat tariff hikes that have pushed import duties beyond 100%, causing what Secretary Bessent recently described as “the equivalent of a trade embargo.” The aggressive tariff regime has disrupted global supply chains, sent shockwaves through financial markets, and raised the risk of a sharp global economic slowdown.
Much of the economic turbulence has also been driven by President Donald Trump’s recent decision to impose broad new duties on dozens of countries, further intensifying pressure on global trade dynamics.
What’s on the Table?
According to two sources familiar with the agenda, the Geneva meeting will focus on broad tariff reductions, specific product-level duties, and export control policies. One source added that Trump’s controversial move to end de minimis exemptions — previously allowing low-value imports to enter the U.S. duty-free — will also be up for discussion.
By choosing Switzerland, a neutral venue, both sides are aiming for a diplomatic atmosphere conducive to breakthroughs — though expectations remain cautious amid months of entrenched positions and public sparring.
Outlook: A Step Toward Trade De-escalation?
While no major agreements are expected immediately, observers see this meeting as an important first step in de-escalating tensions that have already inflicted significant damage on global commerce. The world will be watching closely to see whether economic pragmatism can triumph over protectionist posturing.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
