US and China Set to Meet This Weekend: Is a Deal Incoming?
This weekend marks a significant diplomatic effort as top-ranking officials from the United States and China are scheduled to meet in Switzerland.
U.S. Treasury Secretary Scott Bessent and chief trade negotiator Jamieson Greer will engage in crucial discussions with China’s economic czar, He Lifeng. These talks are widely anticipated as a potential initial step toward de-escalating the protracted trade war that has cast a shadow over the global economic landscape.
The announcement of this pivotal meeting, first communicated by Washington late Tuesday and subsequently confirmed by Beijing, injected a wave of optimism into U.S. equity index futures. This development offered a welcome respite to financial markets that have experienced considerable turbulence in response to U.S. President Donald Trump’s assertive implementation of tariffs on various goods.
Following this encouraging news, stock markets in both China and Hong Kong also registered gains as Asian trading commenced on Wednesday, reflecting a broader positive sentiment across the region.
Key Issues on the Negotiation Table
The upcoming meeting with China’s vice premier follows a period of escalating tensions between the world’s two largest economies. This period has been characterized by the imposition of increasingly steep duties on bilateral trade, with some tariffs surging well beyond the 100% mark.
Sources familiar with the planning of these high-level discussions indicate that a central focus will likely be the potential reduction of the comprehensive tariffs currently in place. Furthermore, the negotiating teams are also expected to delve into the possibility of eliminating duties on specific categories of products. Additionally, U.S. policies concerning de minimis import thresholds and the U.S. export control list are anticipated to be important points of discussion. As of now, China’s State Council has not yet responded to a formal request for comment.
Navigating a Complex Path Towards Resolution
The trade relationship between Washington and Beijing has been marked by a delicate and often contentious back-and-forth regarding tariffs. Both nations have appeared hesitant to be perceived as conceding ground in a trade war that has sent ripples of uncertainty through global markets and significantly disrupted established international supply chains.
The U.S. Trade Representative’s office and the Treasury Department have jointly announced that both Greer and Bessent will travel to Geneva on Thursday. Their itinerary also includes a meeting with Swiss President Karin Keller-Sutter, where discussions will center on negotiations aimed at achieving more balanced and reciprocal trade arrangements.
In a post-announcement interview on Fox News Channel’s “The Ingraham Angle,” Secretary Bessent offered his perspective, stating, “My sense is this will be about de-escalation. We’ve got to de-escalate before we can move forward.”
Following the U.S. announcement, a spokesperson for China’s commerce ministry officially confirmed that China had agreed to the meeting with the U.S. delegation. The Chinese statement emphasized that the decision to re-engage in discussions with the U.S. was made after a thorough consideration of global expectations, China’s own national interests, and the expressed concerns and appeals from both U.S. industry and consumers.
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.
